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Crude oil prices dip as worries over economic slowdown return

Oil prices slipped on Friday as concerns over economic growth resurfaced after inconclusive trade talks between the US and China ended on Wednesday. However, OPEC-led production cuts boosted sentiment in crude markets. Oil prices were also supported by comments from US Federal Reserve Chairman Jerome Powell on Thursday that the US central bank could pause any further interest rate hikes. Asia’s Iranian oil imports were set to rise from December onwards as the United States granted temporary waivers to some countries from sanctions against Iran’s oil exports. International Brent crude futures were at $61.22 per barrel at 0139 GMT.

Read More at The Financial Express News date : 11 Jan 2019, Friday

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