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Oil falls on global slowdown worries, but OPEC cuts offer support

Reuters  |  SINGAPORE 

By Henning GloysteinSINGAPORE (Reuters) - Oil markets fell on Friday, pulled down by worries over a global economic slowdown, although OPEC-led supply cuts and U.S. sanctions against Venezuela provided crude with some support. U.S. West Texas Intermediate (WTI) crude futures stood at $52.24 per barrel by 0641 GMT, down 40 cents, or 0.8 percent, from their last settlement. WTI dropped by around 2.5 percent the previous session.International Brent crude oil futures were down by 41 cents, or 0.7 percent, at $61.22 per barrel, after falling 1.7 percent the previous session.Weighing on financial ...

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First Published: Fri, February 08 2019. 12:14 IST
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