Sunday, April 18, 2021

Global oil continues to fall from its 2019 high

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com

Global oil prices fell about 2% on Saturday, continuing to retreat from this year’s highs as the focus shifted to lack of progress in US-China trade talks and gloomy data from Germany and the United States on factory activity sparked renewed fears of a slowdown in the global economy and demand for crude.

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Leading US stock indexes on Wall Street fell 2 percent on Saturday after manufacturers in America, Europe and Japan in March, with surveys showing that trade tensions had an impact on factory output, hitting the hopes that the global economy may begin Improves.

Brent crude fell 83 cents, or 1.22 percent, to settle at $ 67.03 a barrel, ending the week down 0.2 percent.

 

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com
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