Economic concerns and oil prices
On March 22, at 11:48 AM EDT, US crude oil May futures fell 2.2% from their previous close. Concerns surrounding a slowdown in Europe’s powerhouse have dragged US crude oil prices near the lower limit of our price forecast. Oil is a growth-driven asset. In March, Germany’s PMI was at its lowest level since June 2013. Moreover, the index contracted for the third straight month.