Oil trades below US$100 amid fears of global recession ...Middle East

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Oil trades below US$100 amid fears of global recession
source : Daily Sun ( Middle East ) () 10
ANKARA: Oil prices fell on Wednesday as markets worry that aggressive interest rate hikes to stem inflation will spur an economic downturn, further curbing the oil demand, reported Anadolu Agency.International benchmark Brent crude was trading at US$99.34 per barrel at 9.10 am local time (0610GMT) for a 0.15 per cent decrease after the previous session closed at US$99.49 a barrel.American benchmark West Texas Intermediate (WTI) was at US$95.78 per barrel at the same time on Wednesday for a 0.06 per cent loss, as the previous session closed at US$95.84 a barrel.Oil prices continued to fall as central banks' move to aggressively increase interest rates to combat inflation raised fears of a str

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