Oil supply risks of Ukraine war have overshadowed by demand concerns, says Raymond James' Molchanov

Oil supply risks of Ukraine war have overshadowed by demand concerns, says Raymond James' Molchanov

Please try another search By Peter Nurse Investing.com -- Oil prices slumped Friday, falling to the lowest levels this year, weighed by heightened recession fears, which would curb global demand, as well as a surging dollar. By 09:20 ET (13:20 GMT), U.S. crude futures traded 4.6% lower at $79.67 a barrel, while the Brent contract fell 3.8% to $87.01. The two benchmarks were down 5.1% and 3.7% respectively over the course of this week, heading for their fourth consecutive weekly …