Oil prices dip on economic concerns, demand worries

(July 5): Crude prices dipped in early trading on Tuesday, with falling back below $50 per barrel as economic concerns took centre stage with many analysts saying oil demand will stall later this year.
International benchmark Brent crude oil futures were trading at $49.95 per barrel at 0030 GMT, down 15 cents from their last settlement. U.S. West Texas Intermediate (WTI) crude futures were down 39 cents at $48.60 a barrel.
Analysts said that concerns over the global economy were weighing on the outlook for oil demand and on prices.Categories: Latest NewsCorporate
Source: The Edge





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