Oil prices slip over concerns of global economic slowdown
Oil prices dipped on Friday, with U.S. crude heading for a seventh weekly decline amid increasing concerns about slowing global economic growth that could hit demand for petroleum products as inventories build.
Brent crude oil futures LCOc1 were down 9 cents at $71.34 a barrel by 0649 GMT. U.S. West Texas Intermediate (WTI) crude futures CLc1 dropped 5 cents to $65.41 a barrel.
Brent is heading for a 2 percent decline this week, a third consecutive weekly drop. WTI is on track for a seventh week of losses, with a fall of more than 3 percent.
Traders said the main drags on prices were the darkening economic outlook due to trade tensions between the United States and China, and weakening currencies in emerging economies that are weighing on growth and fuel consumption. investment bank Jefferies said on Friday there was an emerging "lack of demand" for crude oil and refined products. bank DBS said on Friday that Chinese data showed a "steady decline in activities" and that "the economy is facing added headwinds due to rising trade tensions with the U.S."
Traders Get Freedom From Losses
https://www.royaltraders.co
*Get Highly Accurate Calls With Highly Qualified Research Team
*Our Research and Analysis based Tips are intraday validity
only which Get Target in a Short Time Period.
*We have very Expensive Team of CFA professionals Who Provides You Best Call in Mcx Market After
The Accurate Research in All International Markets and DATA.
*Our Market Tips are covered by the Full Proof
Follow-Up in which you Enjoy Profit Instantly.
*We will provide you Best Online and Offline support 24/7 via WhatsApp,Facebook,
Yahoo messenger,Telephone,Telegram etc.
For Tons Of Profit Join Now-9719026661
www.RoyalTraders.co
Best Accuracy For Royal Traders
Oil prices dipped on Friday, with U.S. crude heading for a seventh weekly decline amid increasing concerns about slowing global economic growth that could hit demand for petroleum products as inventories build.
Brent crude oil futures LCOc1 were down 9 cents at $71.34 a barrel by 0649 GMT. U.S. West Texas Intermediate (WTI) crude futures CLc1 dropped 5 cents to $65.41 a barrel.
Brent is heading for a 2 percent decline this week, a third consecutive weekly drop. WTI is on track for a seventh week of losses, with a fall of more than 3 percent.
Traders said the main drags on prices were the darkening economic outlook due to trade tensions between the United States and China, and weakening currencies in emerging economies that are weighing on growth and fuel consumption. investment bank Jefferies said on Friday there was an emerging "lack of demand" for crude oil and refined products. bank DBS said on Friday that Chinese data showed a "steady decline in activities" and that "the economy is facing added headwinds due to rising trade tensions with the U.S."
Traders Get Freedom From Losses
https://www.royaltraders.co
*Get Highly Accurate Calls With Highly Qualified Research Team
*Our Research and Analysis based Tips are intraday validity
only which Get Target in a Short Time Period.
*We have very Expensive Team of CFA professionals Who Provides You Best Call in Mcx Market After
The Accurate Research in All International Markets and DATA.
*Our Market Tips are covered by the Full Proof
Follow-Up in which you Enjoy Profit Instantly.
*We will provide you Best Online and Offline support 24/7 via WhatsApp,Facebook,
Yahoo messenger,Telephone,Telegram etc.
For Tons Of Profit Join Now-9719026661
www.RoyalTraders.co
Best Accuracy For Royal Traders
Comments