Oil Enters A Bear Market As Recession Fears Grow ...Middle East

For the second day in a row, oil and gas stocks emerged as the worst-performing S&P sector as U.S. crude oil futures settled in a bear market, falling more than 20% from a March peak on Wednesday. Front-month WTI crude closed -1% at $98.53/bbl, the lowest settlement in nearly three months and the second straight settlement below $100, while front-month Brent crude ended -2% at $100.69/bbl just a day after dipping below the psychologically-important level of $100/bbl for the first time since April. Whereas Wednesday's decline looks tame in comparison…

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