Increasing trade tensions and a broader economic slowdown, along with falling oil demand, will overtake supply shortages and lead to lower oil prices, Morgan Stanley said in a research note. Brent and West Texas Intermediate (WTI) crude futures on Wednesday hit their lowest levels since mid-January at $59.45 and $50.60 per barrel, respectively, as U.S. crude inventories surged amid record production, and as a global economic slowdown started to hit energy demand. Oil markets have moved into bear territory as defined by a 20% fall peaks touched in late April. “Demand is weakening much more rapidly than we had expected. Considering recent data, both specific to the oil market as well as macro-economic, this seems increasingly likely,” Morgan Stanley analysts said in a note dated Wednesday. Incoming data on oil demand for March and April has been disappointing, the investment bank said, pointing to consumption […]