Crude erases war-driven gains as recession fears hammer markets

The global crude benchmark fell as much as 5.1% to trade under $95 a barrel, touching its lowest level since late February. Crude has been in decline since early June on escalating fears the US may be pushed into a recession. Shortly after the war began, Brent futures skyrocketed to above $139 as Russia’s war in Ukraine disrupted an already tight supply-demand balance.

from Commodities-Markets-Economic Times
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