Oil futures retreat as they are affected by global economic concerns

UNITED STATES, WASHINGTON (OBSERVATORY) — Oil futures eased early on Thursday, as worries about a global economic slowdown and trade tensions resurfaced.

On Wednesday evening, oil rose by more than $ 2 a barrel, with the emergence of information that the decline in crude stocks in the United States last week.

The US Energy Information Administration said yesterday that crude oil inventories in the United States, fell by 10 million barrels last week, to 427.8 million barrels.

But global economic fears, especially in the United States, Germany, which is shrinking in its growth, and the Brexit near the European Union, are weakening sentiment.

By 06:08 GMT, Brent crude for October delivery was down 0.68 percent, or 41 cents, at $ 59.52 a barrel.

US West Texas Intermediate crude futures were down 0.48 percent, or 27 cents, at $ 55.51 a barrel.


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