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Oil Barely Moves on Talk of Likely U.S. Recession

© Reuters. © Reuters.

By Barani Krishnan – The rally in oil seems stuck with nowhere to go.

U.S. West Texas Intermediate crude and U.K. Brent oil barely moved in Monday’s trade as recession worries gripped the market a week after what seemed to be unstoppable momentum for oil bulls from an OPEC vowing not to stop production cuts until it had drained the market of excessive supply.

settled down 22 cents, or 0.4%, at $ 58.82 per barrel.

, the global oil benchmark, rose 1…
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