Crude oil prices have slipped in the past two weeks as concerns about a recession – judged a strong possibility by some commentators – continue to grow. The benchmark Brent crude is currently trading at US$109.84 ($159.11) per barrel, down from a peak of US$123.58/bbl just a little more than two weeks ago thanks to a steep plunge on Wednesday. It follows Deutsche Bank chief executive officer Christian Sewing telling Bloomberg there was a 50% chance of a global recession while Citi head of capital markets for the Americas Kristin Bitterly was a little more optimistic with her estimate of a 40% chance going into 2023. ... (full story)