Demand Worries Hurt Oil

Credit: Wochit
Published on June 12, 2019 - Duration: 00:50s

Demand Worries Hurt Oil

According to Reuters, Oil futures sank on Wednesday amid higher U.S. crude inventories and a weaker demand outlook, while uncertainty over the U.S.-China trade war and its potential economic impact weighed on stock markets.

Hedge fund managers have been liquidating bullish oil positions at the fastest rate since late 2018 amid growing economic fears.

Advertisement

You are here

Recent related news from verified sources

Oil prices steadied on Monday as tensions over Iran's nuclear program countered concerns about whether slowing global economic growth would hit oil demand.
1 week ago • Reuters

Oil fell on Tuesday amid worries over the outlook for demand after the latest signs that international trade disputes have been dragging on the global economy,...
1 week ago • Reuters

Oil futures edged up on Tuesday as OPEC supply cuts and Middle East tensions kept global benchmark Brent crude above $64 a barrel, while gains were limited by...
1 week ago • Reuters

Oil fell on Tuesday amid worries over the outlook for demand after the latest signs that international trade disputes have been dragging on the global economy,...
1 week ago • Reuters

You might like