Oil Slips Below $43

Crude oil prices continued to fall Monday amid speculation that interest rates are going to rise in the next few months.

Dec. oil dropped 42 cents, or 1%, to settle at $43.87/bbl on Nymex.

Weak global demand and OPEC’s stubborn refusal to cut production also weighed on oil prices.

The OECD slashed the growth outlook for next year to 3.3 percent from 3.6 percent. The group projected global growth at 3.6 percent in 2017.

The material has been provided by InstaForex Company – www.instaforex.com