Oil extends losses as recession fears mount - Business News| Latest News & Reviews On Financial Markets | Themarkettrendz

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Wednesday, 22 June 2022

Oil extends losses as recession fears mount

Oil prices fell 2% in early trade on Thursday, extending losses from the previous day, as investors worried that aggressive U.S. interest rate hikes could trigger a recession and dent fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell $2.39, or 2.3%, to $103.80 a barrel by 0031 GMT. Brent crude futures dropped $2.24, or 2.0%, to $109.50 a barrel.

from Commodities-Markets-Economic Times
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