SINGAPORE – Oil prices slipped on Monday as concerns about rising interest rates, the global economy and the outlook for fuel demand outweighed support from the prospect of tighter supplies on OPEC+ supply cuts. Brent crude slipped 48 cents, or 0.6 percent, to $81.18 a barrel by 0045 GMT while U.S. West Texas Intermediate crude was at $77.39 a barrel, down 48 cents, also 0.6 percent lower. Both contracts fell more than 5 percent last week, their first weekly drop in five, as U.S. implied gasoline demand fell from a year ago, fueling worries of a recession at the world's top oil consumer.

https://business.inquirer.net/397343/oil-prices-slide-on-uncertainty-over-global-economic-outlook-rate-hikes

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