Analysts cite the strengthening dollar and fears of a US recession as the main factors Oil prices have plummeted on Wednesday, with the global benchmark Brent crude dropping below $90 per barrel, while US benchmark WTI is down to around $85 a barrel. The cost of November futures for Brent crude oil have fallen by more than 4% to trade at $89.07 per barrel as of 13:35 GMT, according to data from London’s Intercontinental Exchange. Brent has slid below $90 per barrel for the first time since February 8. October futures on WTI crude are down 2.7% to trade at $84.58 per barrel, the first time it has dipped below $85 p
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