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

Oil Edges Down on US Recession Risk

Oil United States Recession OPEC Tamas Varga International Monetary Fund
A oil pump is seen at sunset outside Scheibenhard, near Strasbourg, France, October 6, 2017. REUTERS/Christian Hartmann/File Photo

Oil prices slipped on Thursday as the prospect of a possible recession in the United States, the world's largest oil consumer, offset concerns of tight supply.

Brent crude fell 55 cents, or 0.63%, to $86.78 a barrel by 1352 GMT. US West Texas Intermediate (WTI) slipped 46 cents, or 0.55%, to $82.80.

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