Oil Dips As Fear Of Recession Prevails On Market

After two days of gains, oil prices turned lower early on Friday, weighed down by lingering concerns about recession in major economies and a strong dollar, which makes crude more expensive for holders of other currencies. As of 9:00 a.m. ET on Friday, WTI Crude was trading below the $90 a barrel mark, at $88.93, down by 1.73%. The international benchmark, Brent Crude, was below $95 per barrel and traded at $94.77, down by 1.88% on the day. Both benchmarks were on track for a weekly loss of over 3.5%, as fears of a global economic slowdown trumped…