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

Oil Prices Slip as Recession Fears Rumble On, Tight Supply Stems Losses

Oil Recession United States OPEC Libya Russia
Oil drills are pictured in the Kern River oil field in Bakersfield, California November 9, 2014. REUTERS/Jonathan Alcorn/File Photo

Oil prices fell on Monday, paring gains from the previous session, as fears of a global recession weighed on the market even as supply remains tight amid lower OPEC output, unrest in Libya and sanctions on Russia.

Brent crude futures for September slipped 36 cents, or 0.3%, to $111.27 a barrel at 0300 GMT, having jumped 2.4% on Friday.

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