Oil prices in long­est skid since 1984

Philippine Daily Inquirer - - WORLD -

Oil prices fell nearly 1 per­cent on Fri­day as global sup­ply in­creased and in­vestors wor­ried de­mand growth could slow, pres­sur­ing US crude to its long­est stretch of daily de­clines since 1984. “What a dif­fer­ence a month makes,” said Michael Tran, com­mod­ity strate­gist at RBC Cap­i­tal Mar­kets. “Mar­ket sen­ti­ment has shifted from the most bullish tone in years with many call­ing for $100 only weeks ago, to the weak­est in­vestor sen­ti­ment since the 2016 price trough.”

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