January 3, 2019 (MLN): Volatile currency and stock markets continued to dominate oil prices on Thursday, along with fears of an economic slowdown expected this year.

Moreover, Saudi Arabia is expected to cut prices in February for crude oil sold to Asia by up to 50 cents a barrel due to weaker fuel oil margins, respondents to a Reuter’s survey said on Thursday.

U.S. West Texas Intermediate (WTI) crude oil futures dropped by around 2 percent from their last closing, or 93 cents, to $45.61, whereas International Brent crude futures fell by 1.1 percent, or 60 cents, at $54.31 a barrel.

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