Oil slides 2% as market shifts focus to demand | Financial Times:
Oil prices further retreated from their four-year highs on Wednesday as concerns over weaker global economic growth and the potential effect of Hurricane Michael on fuel demand kept traders on edge.
Brent crude was trading 2.2 per cent lower at $83.10 a barrel while West Texas Intermediate dropped 2.3 per cent to $73.23 a barrel.
The moves come after the IMF downgraded its global economic growth forecasts for 2018 and 2019 on Tuesday, raising concerns that demand for oil products may fall as well.
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