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Oil Prices Fall as Concerns Over Global Growth Continue to Dent Investor Sentiment


Thursday, 24 January 2019 13:37 WIB

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Oil prices slid on Thursday in Asia as lingering concerns over global economic growth continued to affect investors’ risk appetite.

International Brent Oil Futures were at $60.87 a barrel at 1:42 AM ET (06:42 GMT), down 0.5%.

U.S. Crude Oil WTI Futures were at $52.37 per barrel, also down 0.5% from their last settlement.

On Monday, the International Monetary Fund (IMF) cut its 2019 and 2020 global growth forecasts, citing multiple threats including a bigger-than-expected slowdown in China and the risks of a “no deal” Brexit.

That came one day after China reported that its 2018 economic growth dropped to its slowest pace in nearly three decades. The data added to concerns that a widespread economic slowdown would dent growth in demand for fuel and affect energy prices.

Source : Investing.com


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