12/02/2019
SINGAPORE (Reuters)
Oil markets fell today on concerns about a global economic slowdown, although production cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and US sanctions on Venezuela gave crude some support.
US West Texas Intermediate crude futures were $ 52.24 a barrel by 0641 GMT, down 40 cents, or 0.8 percent, from the previous settlement.
Crude fell 2.5 percent in the previous session.
Brent crude futures fell 41 cents, or 0.7 percent, to $ 61.22 a barrel, after falling 1.7 percent in the previous session.
There is a pressure on financial markets, including oil futures markets, due to fears that the prospects for global economic growth have been affected by fears that trade disputes between the United States and China remain unresolved.
