Oil prices slip amid worries of severe economic slowdown

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Oil prices slip amid worries of severe economic slowdown
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Oil prices slipped on Monday, with concerns of a sharp economic slowdown outweig...

SINGAPORE - Oil prices slipped on Monday, with concerns of a sharp economic slowdown outweighing supply disruptions from OPEC’s production cutbacks and from U.S. sanctions on Iran and Venezuela.

U.S. West Texas Intermediate futures were at $58.69 per barrel, down 35 cents, or 0.6 percent, from their previous settlement. Historically, an inverted yield curve - where long-term rates fall below short-term - has signaled an upcoming recession.

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