TOKYO – Oil prices eased on Friday, extending losses from the two previous days and heading for a weekly decline, as softening U.S. economic data and a rise in U.S. gasoline inventories raised concerns about a recession and slower global oil demand. Brent futures for June delivery were down by 14 cents, or 0.2 percent, at $80.96 a barrel at 0101 GMT. West Texas Intermediate crude (WTI) for June delivery slid 12 cents, or 0.2 percent, to $77.25 a barrel. Both benchmarks slid by more than 2 percent to their lowest level since late March on Thursday amid fears of a possible recession, and were on track for a weekly drop of about 6 percent.

https://business.inquirer.net/396938/oil-prices-extend-losses-on-fears-of-recession-and-slower-oil-demand

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