Oil recedes in a month due to economic risks



Oil fell more than 2% Thursday, bringing Brent to a high of four months, as investors focused on the risk that the crisis in the emerging markets and trade conflicts will be met, even if supply slows.

The International Energy Agency warned of increasing risks in the world economy, even though the current oil market is tight and the global demand for crude oil will reach 100 million basis points within the next three months.

"As we go into 2019, there is a potential risk factor for our expectations in some of the major emerging economies, partly because of the devaluation of the currency against the dollar and the high costs of energy imports," the agency said.

"Moreover, there is a risk of growth due to the escalation of trade disputes," said the Paris-based agency.


Source link

Leave a Reply