Oil extends falls as investors assess recession risks | Reuters
A retreat in oil prices continued on Thursday as investors reassessed the risks of recession and how fuel demand will be affected by rising interest rates.
Brent crude futures fell by $1.47, or 1.3%, to $110.27 by 0949 GMT, having dropped as low as $108.04 earlier in the session.
U.S. West Texas Intermediate (WTI) crude futures were down $1.48, or 1.4%, at $104.71 after touching a session low of $102.32.
Both benchmarks plunged 3% on Wednesday and are at their lowest since mid-May.
Investors are continuing to assess how worried they need to be about central banks potentially pushing the world economy into recession as they attempt to curb inflation with increases to interest rates. read more
No comments:
Post a Comment