Oil fluctuates with slowdown concerns offset by tight supply
Oil fluctuated, with prices on course for a deep weekly loss, as investors weighed concerns that a potential global slowdown would hollow out energy demand against signs of still-tight physical markets.
By Sharon Cho, Bloomberg News
US benchmark West Texas Intermediate crude traded above USD 98 a barrel, more than 9% lower this week. Over the past month, escalating fears that a looming recession will erode consumption have driven prices down even as the market continues to show signs that supplies remain tight at present.
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