U.S. oil benchmark on track for a 5% weekly slide

Oil futures slipped Friday, leaving the U.S. benchmark on track for a loss of more than 5% for the week, as signs of a weakening global economy play out against still robust levels of production.

The weekly drop was fueled by Thursday’s sharp retreat, which came amid worries about energy demand, a stronger dollar that makes U.S.-priced commodities less attractive, and reports that Libya could soon increase production. China-U.S. trade uncertainty and a vulnerable stock market are adding to the worrisome economic picture highlighted by oil bears.
more at source: https://www.marketwatch.com/story/us-oil-benchmark-on-track-for-a-5-weekly-slide-2019-02-08

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