SINGAPORE  – Oil prices slipped in early Asian trade on Monday as global macroeconomic headwinds and possible further interest rate hikes from the U.S. Federal Reserves offset forecasts of tighter supplies amid OPEC+ cuts. Brent crude futures dropped 20 cents, or 0.3 percent, to $75.21 a barrel by 0044 GMT after settling up 0.8 percent on Friday. U.S. West Texas Intermediate crude was at $70.41 a barrel, down 23 cents, or 0.3 percent, after closing 1.1 percent higher in the previous session. Brent fell for the fourth straight quarter by the end of June while WTI notched a second quarterly drop as the world's top two economies, the U.

https://business.inquirer.net/408183/oil-prices-slip-on-global-economic-slowdown-fears

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