Oil slides after IMF says slowing global growth engines portend tougher 2023
Oil prices slid on Monday from their highest levels in a month on a stronger dollar and after the head of the International Monetary Fund warned of a tougher 2023 as major economies experience weakening activity.
Brent crude futures dropped 98 cents, or 1.1%, to $84.93 a barrel by 0148 GMT while U.S. West Texas Intermediate crude was at $79.49 a barrel, down 77 cents, or 1.0%, after the U.S. dollar strengthened. A stronger greenback makes dollar-denominated commodities more expensive for holders of other currencies.
