Oil prices fall due to situation in stock markets

World prices for oil futures fell slightly on Monday morning due to a general decline in prices on financial markets, which may indicate "risk aversion" sentiment, Report informs.

The price of May futures for Brent crude fell by 0.36% to $82.52 per barrel, and April futures for WTI dropped by 0.29% to $76.1.

Everything suggests that traders in global financial markets, including when trading oil futures, tend to avoid risk: the main US stock indices closed down over 1% on Friday, and Asian markets are also falling on Monday.

Traders' attention has turned back to the economic outlook, as the US Federal Reserve is expected to continue raising the discount rate. Fears of a recession affect views on the prospects for oil demand, which is harmful to quotes.