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Oil Prices Decline Amid Economic Slowdown, OPEC Likely to Continue Supply Cuts

Tuesday, 4 June 2019 13:13 WIB

MinyakWTIBrentOil,

Oil prices dropped on Tuesday in Asia as signs continue to point to a global economic slowdown affecting oil demand.

Crude Oil WTI Futures were at $53.14 per barrel, down by 0.19% at 12:16 AM ET (4:16 GMT). Crude futures are now around 20% below their peaks of late April 2018.

Brent Oil Futures, the international benchmark for oil prices, were at $61.06, having dropped 0.36%.

Analysts said the global economic slowdown is starting to affect oil demand.

Source : Investing.com

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