Oil Prices Are On Track For A Third Consecutive Week Of Losses

Crude oil is about to book its third consecutive week of losses despite several spikes as worry about demand remains stronger than worry about supply. A strong dollar also pressured oil prices as it made the commodity less affordable for buyers in the dollar-dominated oil market. At the time of writing, Brent crude was trading at $91.24 per barrel, with West Texas Intermediate at $85.39 per barrel. Recession fears, however, remain the biggest reason behind the downward trend. The World Bank on Thursday warned that the risk of a global recession…