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Find all the economic and financial information on our Orishas Direct application to download on Play StoreOil prices were moving slightly lower on Thursday. Investors are watching for signs of weakness in the American economy that could lead to weak demand.
The barrel of West Texas Intermediate (WTI), for delivery in May, slid 0.24% to $80.42, while the barrel of Brent from the North Sea for delivery in June lost 0.18% to $84.84, around 10:10 GMT (12:10 CET). According to Stephen Brennock, an analyst at PVM, “oil fundamentals, which are driving prices, are giving way to macroeconomic concerns.” However, prices remained higher over the week, after the decision on Sunday by some members of the Organization of Petroleum Exporting Countries and their allies (OPEC +) to limit production.
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