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Oil prices rally as economic slowdown seems imminent

  • Regular
  • Economy
  • 2 months ago
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Oil prices have rallied as trade talks resume between Washington and Beijing and a feeling that an economic slowdown is due aired by J.P. Morgan which stated that, “the 3 percent global growth pace we have been anticipating for the next two quarters looks increasingly challenging.”

Brent crude futures were up 1.4% at $57.86 per barrel, although earlier today Goldman Sachs have downgraded their outlook for 2019 from $70 to $ 62.50.

Meanwhile WTI futures rose by 1.7% to $48.77 per barrel.

 

Source: Smart Trend Team