NextGen Day

On Monday, oil prices modestly declined, supported by shaky economic growth in China and a possible US recession.

At 9.54 a.m. local time (0654 GMT), the price of international benchmark Brent crude was USD 87.51 per barrel, down 0.14 percent from the previous trading session’s closing price of USD 87.63 per barrel.

At the same time, the American benchmark West Texas Intermediate (WTI) was trading at USD81.56 per barrel, down 0.10 percent from the previous session’s closing price of USD81.64 per barrel.

Due to the Lunar New Year vacation, major Asian markets, including China, are closed, which is anticipated to have an impact on demand this week.

Although China decided to lift its Covid-19 (coronavirus disease 2019) travel restrictions last month, the oil industry is still confident about a rise in demand there.

The markets are anticipating US fourth-quarter gross domestic product data, which is due later this week and will show whether the world’s largest economy is likely to enter a recession.

Experts express concern that a potential US recession could counteract rising Asian demand.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

Feel free to Email Us for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---