ADVERTISEMENT

Oil price fumbles on global economic worries, US$ strength


  • Oil & Gas
  • Wednesday, 6 Feb 2019

Brent crude futures fell US53 cents to settle at $61.98 a barrel. They touched their highest level in more than two months at $63.63 the previous day. U.S. crude futures dropped 90 cents to settle at $53.66 a barrel, or down 1.7 percent. (Aerial view of the Mexican oil company PEMEX oil complex in Azcapotzalco, on the outskirts of Mexico City, taken on February 4, 2019. - Reuters

Brent crude futures fell US53 cents to settle at $61.98 a barrel. They touched their highest level in more than two months at $63.63 the previous day. U.S. crude futures dropped 90 cents to settle at $53.66 a barrel, or down 1.7 percent. (Aerial view of the Mexican oil company PEMEX oil complex in Azcapotzalco, on the outskirts of Mexico City, taken on February 4, 2019. - Reuters

NEW YORK: Oil prices slipped on Tuesday, falling from two-month highs as concerns over a global economic slowdown crept back into the market, and a stronger dollar also weighed.

Prices sagged after a survey showed euro zone business expansion nearly stalled in January. That, coupled with disappointing U.S. factory orders data a day earlier, stoked worries about softer demand, analysts said.

Oil & Gas , Markets , Corporate News

   

ADVERTISEMENT