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Asharq Al-Awsat
Asharq Al-Awsat
Business
Asharq Al-Awsat

Oil Dips on Recession Fears; Supply Concerns Limit Declines

Oil Recession European Union
An oil pump is seen at sunset outside Vaudoy-en-Brie, near Paris, France April 23, 2018. REUTERS/Christian Hartmann

Oil prices dipped on Monday as fears of a global recession caused concerns that fuel demand growth will slow, though supply worries ahead of the European Union embargo on Russian oil in December limited declines.

Brent crude futures for November settlement fell 46 cents, or 0.5%, to $90.89 a barrel by 0701 GMT.

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