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Brent crude comes under further pressure - JPM boss talks US recession
The boss of JP Morgan Chase, Jaimie Dimon is speaking on the wires right now and his comments are not very positive. He sees the risks of defaults (amongst customers) rising and he also sees the risks of the US entering a recession rising too. Those comments have weighed on the dollar just now as well. At the same time Oil prices are clearly sensitive to all of this. Earlier an update here noted the slide in oil yesterday and since that update prices have fallen back even more. Brent crude for June delivery took out $60 per barrel some while ago this morning and it has fallen more than that. The low seen so far has been set at $58.40. It is off that low now though, but the clear driver for this right now is the outlook for significantly reduced demand. Brent for June delivery is right now at $59.25
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