7/14, 10:42 AM (Source: TeleTrader)
more TeleTrader news

Oil prices fall as recession woes accelerate

Prices of oil futures fell on Thursday as recession fears continued to mount, prompted by the latest report on the United States inflation.

The elevated figures could potentially lead to more aggressive rate hikes from the Federal Reserve, which would, in turn, affect the growth of the global economy and tamp down the demand for crude.

West Texas Intermediate (WTI) for deliveries in August declined 1.42% to $95.14 per barrel at 4:31 am ET, while Brent for September settlements lost 0.95%, selling for $98.54 per barrel a minute later.

Baha Breaking News (BBN) / AY