Turkey’s currency crisis has raised fears of destabilization in emerging markets. With higher financial risks in mind, traders sold off oil. EIA’s bearish report. The EIA reported a 6.8-million-barrel increase in crude stocks this week, sending prices down on Wednesday. The abnormally large build sent a shudder through the oil market, raising the prospect of a slowdown. Cracks in the global economy. The Turkish lira crisis has put concerns about the health of the global economy front and center. Bloomberg says that if the economy falters, it will show up in time spreads for oil futures. “Crude oil prices and the crude curve structure are typically the indicators which pick up all the demand […]