Oil slips below $59 amid economic worries | Financial Times:
Oil prices slipped below $59 on Wednesday, reversing gains made a day earlier amid heightened fears of a global economic turndown.
Brent crude, the global benchmark, fell by 4.8 per cent to $58.33 a barrel, while the US marker West Texas Intermediate was down 5.3 per cent to $54.06 a barrel.
On Tuesday the price of Brent crude rose above $60 a barrel but tumbled back down a day later as the bond markets flashed ominous signals in the US and UK.
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