Singapore, January 03 (QNA) – Oil prices slid from their highest levels in a month on a stronger dollar and after the head of the International Monetary Fund warned of a tougher 2023 as major economies experience weakening activity.
Brent crude futures dropped 98 cents, or 1.1%, to $84.93 a barrel, while US West Texas Intermediate crude was at $79.49 a barrel, down 77 cents, or 1.0%, after the US dollar strengthened.
IMF Managing Director Kristalina Georgieva said on Sunday that the United States, Europe and China – the main engines of global growth – are all slowing down simultaneously, making 2023 tougher than 2022 for the global economy.
Still, oil prices settled more than 2% higher on Friday with Brent and WTI closing 2022 up 10.5% and 6.7%, respectively. (QNA)
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