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        Oil is feared by the global economic slowdown


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West Texas Intermediate Crude Oil Futures (WTI) crude oil futures price was $52.24 per barrel at 0641 GMT, 40 cents or 0.8% lower than the previous settlement price. WTI fell about 2.5% in the previous trading day.
International Brent crude oil futures fell 41 cents, or 0.7%, to $61.22 a barrel, after falling 1.7%.
Trade-offs in financial markets, including crude oil futures, have weakened the prospects for global economic growth, fearing that trade disputes between the United States and China remain unsolved. U.S. President Donald Trump said Thursday that he did not intend to meet with Chinese President Xi Jinping before the deadline for a trade agreement between the two countries on March 1.
If there is no agreement between the world's two major economies, Trump will threaten to raise U.S. tariffs on Chinese imports. Another round of talks will be held in Beijing next week.
Edward Moya, a market analyst at OANDA, a futures broker, said, "Crude oil prices have returned to their lows this week due to the slowdown in growth prospects... which may herald a rebound in inventories."
On Thursday, due to Global trade tensions and a series of domestic challenges, the European Commission sharply cut its economic growth forecast for the euro area.


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