The Potential for a Slowdown in the World Economy Depressed Oil Prices
Lensa Aktual . Crude prices slumped in Thursday's trade, US time. Weakening occurs as market participants' attention is focused on signaling a slowdown in global economic growth and rising crude oil production. Reported by Reuters on Friday, the price of Brent crude oil futures fell 4.24 percent or US $ 2.31 to US $ 52.16 per barrel. The decline also occurred in the price of US West Texas Intermediate (WTI) crude oil futures of US $ 1.16 or 3.48 percent to US $ 44.61 per barrel. "The market has partially recovered yesterday's gains brought along with euphoria on the stock market," said Lipow Oil Associates President Andrew Lipow in Houston, USA. For the record, world crude oil prices jumped more than eight percent in Wednesday's trade. That happened as a surge in the Wall Street market after Donald Trump's administration tried to hoist market confidence. The price of Brent and WTI has fallen more than 30 percent since the beginning of October 2018. Looking...