WTI Crude Stays Bearish On Global Growth Worries

16 Sep 2022 , 04:45 PM

WTI Crude oil futures stayed weak today amid bearish cues from the global equities and hovered well under the key $90 per barrel mark. Asian markets dropped with heavy losses in benchmarks in China, Hong Kong and Japan. European shares saw deep declines with German DAX index slumping around 1.70%. The US stocks stayed under continued stress amid inflationary worries as the main index extended losses to around two month lows. The WTI Crude oil futures are currently trading at $84.92 per barrel, down 0.21% on the day. Global economic cues remain bleak. Downside risks continue to dominate the global economic outlook and some countries are expected to slip into recession in 2023, but it is too early to say if there will be a widespread global recession, IMF spokesman Gerry Rice noted yesterday.Powered by Commodity Insights