Oil prices slide on concerns of sharp economic slowdown
SINGAPORE: OilNSE 1.31 % prices kicked off the week’s trading with losses as concerns of a sharp economic slowdown outweighed supply disruptions from OPEC’s production cutbacks and US sanctions on Iran and Venezuela.
Brent crude oil futures were at $66.79 per barrel at 0022 GMT, down 29 cents, or 0.4 per cent, from their last close.
US West Texas Intermediate (WTI) futures were at $58.68 per barrel, down 37 cents, or 0.6 per cent, from their last settlement.
