Oil prices extend losses as recession fears, inventories mount
Thursday, 15 August 2019 08:14 WIB | ENERGY |MinyakWTIBrentMinyak MentahOil,

Oil prices fell on Thursday to extend sharp overnight losses as U.S. crude inventories unexpectedly rose, fears of recession mounted and economic data out of China and Europe disappointed.

Brent crude was down 39 cents, or 0.7%, at $59.09 a barrel by 00:34 GMT, after falling 3% in the last session.

U.S. WTI  crude was down 28 cents, or 0.5%, at $54.95 a barrel, having dropped 3.3% in the previous session.

The combination of a slew of data suggesting a slowdown in global growth amid the U.S.-China trade war and persistently high levels of oil in U.S. storage has punctured recent optimism in crude markets, stoking expectations leading oil producers may take further steps to support prices.

Source : Reuters

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