Oil swings with recession fears, Iran talks dominating market - BNN Bloomberg

West Texas Intermediate futures edged higher to US$86.91 a barrel after dropping to a fresh seven-month low, while Brent continues to trade above US$92 a barrel.

“Recession fears are the main driver along with the lack of liquidity - we’ve seen traders, fund managers, speculators all pulling out,” Luke Longhurst, head of fuel at brokers Freight Investor Services said by phone. Additional supply could heap more pressure on prices as concerns over an economic slowdown cloud the demand outlook. Time spreads have narrowed significantly, signaling an easing of tight crude markets.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil pares losses as market mulls Iran supply, weak economies - BNN BloombergOil recovered from early losses with the market weighing expectations of an increase in Iranian production and worsening prospects for global growth. Good morning Vtradez
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Russian buyer of Canadian oil company accused of paying kickbacks to former Ukrainian PM | Globalnews.caIgor Makarov, 21% owner of Calgary-based Spartan Delta, has been accused by U.S. authorities of paying at least $28.5 million in kickbacks to a former Ukrainian prime minister. US sure dies spy on a lot of people while blaming the other countries, but no so little about themselves How much longer is this shit going to go on I'd like to get television again maybe even the news
Source: GlobalNational - 🏆 81. / 51 Read more »