The price of oil futures tanked further on Tuesday after the International Monetary Fund cut its 2022 global gross domestic product (GDP) growth forecast from 4.4% to 3.6%. The report saw the global GDP rising by 3.6% in 2023, as opposed to the 3.8% forecasted previously, which seemingly reheated worries regarding the future demand for crude. The West Texas Intermediate for deliveries in May plunged 4.61% at 10:28 am ET, selling for $103.24 per barrel, while Brent for settlements in June dropped 4.27% a minute later, going for $108.38 per barrel. NN: Please note we took profits at the $108 are before the drop on the high yesterday…. Another lucky guess!!