Recent data from the World Trade Organization shows global trade growth stagnating, a sign that the world may be moving into a recession. The slowdown in global maritime trade growth will likely have a direct effect on oil demand, adding downward pressure to oil prices. Oil prices fell by nearly five percent on Wednesday, and continued news of an economic slowdown is only going to add to bearish sentiment. Global maritime trade growth is slowing, the latest data shows, in a sign that the global economic slowdown is underway and a recession in major markets could soon materialize, threatening oil demand. The latest Goods Trade Barometer from the World Trade Organization (WTO) showed at the end of August that global trade growth is stagnating. The indicator “was steady but below the recent trend line for merchandise trade, suggesting that global goods trade continued to grow in the second quarter […]