Oil slips on fears recession may hit demand | Reuters
Oil prices fell on Thursday in a volatile week as recession fears dogged global financial markets, outweighing supply concerns and geopolitical tensions in Europe.
Brent crude was down 82 cents, or 0.8%, to $106.69 a barrel at 1333 GMT. WTI crude fell 30 cents, or 0.3%, to $105.41 a barrel.
Oil prices have been under pressure this week, along with global financial markets, amid jitters over rising interest rates, the strongest U.S. dollar in two decades, concerns over inflation and possible recession.
Prolonged COVID-19 lockdowns in the world's top crude importer, China, have also impacted the market.
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