Oil Extends Selloff While Gold Breaks Above 1700 amid Rising Uncertainty in Outlook
BonTradeOil prices remained under pressure in European session. The front-month contract for WTI crude oil plummeted to as low as 83.18 from Friday's close of 86.88 while the equivalent Brent crude contract slipping to as low as 105.5 after settling at 109.37 last week. The US is at the risk of a double-dip recession while other parts of the world are facing economic slowdown. Investors dumped oil amid speculations that demand will be adversely affected by the global turmoil.
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Oil Extends Selloff While Gold Breaks Above 1700 amid Rising Uncertainty in Outlook
