9/26, 7:53 AM (Source: TeleTrader)
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Oil down over 1% on economic woes

The prices of oil futures continued to slump on Monday, as concerns over a dark economic outlook proceeded to rattle the markets.

As the Federal Reserve battles the soaring inflation, many are concerned that the world's largest economy could be headed for a recession, which in turn seemingly dampened the demand for crude.

West Texas Intermediate (WTI) for settlements in November sank 1.18% at 1:39 am ET to sell for $77.81 per barrel, while Brent for the same month's deliveries tumbled 1.15%, selling for $85.20 per barrel, at 1:42 am ET.

Baha Breaking News (BBN) / AY