Crude oil prices plummeted in Asian markets as price charts indicating a five percent reduction in oil prices in two days.
Crude oil prices are facing a downward trend in the global market, with the price of Brent falling 2% to $ 57.66 per barrel.
The price of US crude oil fell 1.4% to $ 54.47.
According to experts, the downward trend is due to fears about the recession of the international economy.
In addition, lower demand for crude oil is also putting pressure on the price of oil.
The Asian Development Bank (ADB) had already reduced the inflation forecast due to lower prices for crude oil and food products.
In its Asian Development Outlook, the AfDB revised South Asia’s inflation forecast for 2019 downward from 4.7% to 4.5%.
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