CRUDE OIL PRICES PLUNGE AMID YIELD CURVE INVERSION AS RECESSION FEARS RAGE
- Crude oil prices plummet pushed by newest financial information out of China and the Eurozone which rekindled recession fears because the 2s10s Treasury yield curve inverts
- Oil demand prospects proceed to dissipate amid slowing international GDP development regardless of hopes of US-China commerce struggle de-escalation following Trump’s tariff delay
- Obtain the DailyFX Q3 Crude Oil Forecast for in-depth basic and technical outlook
Crude oil costs are dropping sharply once more alongside danger property that are coming below severe promoting strain following this morning’s inversion of the US Treasury yield curve. Extra disappointing financial information readings out of China and the Eurozone are offering traders with the most recent little bit of proof that global GDP growth continues to slow which is stoking recession fears as soon as once more. Consequently, prospects for oil demand are getting crushed and is sending crude oil costs aggressively decrease.
CRUDE OIL PRICE CHART: DAILY TIME FRAME (DECEMBER 20, 2018 TO AUGUST 14, 2019)
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