Barclays Sees $15-$25 Barrel Downside If Manufacturing Activity Slows

Barclays cautioned on Tuesday that we could see a $15-$25 barrel downside risk for crude oil prices compared to its current forecast of $98 per barrel, according to Reuters. In a recent note, Barclays linked that downside risk to a possible continued slowdown in global manufacturing activity. “Given the challenging macroeconomic backdrop (we) highlight $15-25/barrel of downside to our forecast if the slump in global manufacturing activity worsens similar to the 2008-09 episode,” Barclays said, adding that it “would imply 1-2 million…