Oil Capitulates On Global Recession Fears ...Middle East

OILPRICE - Economy
Oil Capitulates On Global Recession Fears
source : OILPRICE ( Middle East ) () 24
Breaking through new technical levels, Brent crude has plummeted nearly 4.6%, below $90, and WTI has plunged to $82, shedding over 5%, as fears of global recession appear to be driving the oil markets into a longer-term spiral downwards.  As of 12:40 p.m. EST, Brent crude is trading down 4.57% at $88.59 per barrel for a $4.24 change on the day. WTI was trading down 5.01% at $82.53, for a change on the day of $4.35.  There are no breaking developments driving prices downward, and no new data releases that would normally weigh on oil prices.…

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