Slow Global Growth Dips Oil Prices – 25 July, 2019
A recent poll shows U.S.-China trade tensions are slowing down economic growth, causing oil prices to fall, but Middle Eastern Tensions helped cushion the drop. Brent crude futures fell 0.4% and 24 cents to $63.15 per barrel after gaining 0.3% the previous session. U.S. West Texas Intermediate crude dropped 0.1% and 5 cents to $55.97 per barrel, denting it overnight 0.25% gain. Middle Eastern tension have caused concern over supply disruptions causing a spike in prices, but over 500 economist are worried about the U.S.-China trade war and a global growth rut.