7/5, 12:00 PM (Source: TeleTrader)
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Oil prices tumble as recession fears linger

Prices of oil futures slid on Tuesday, during a volatile session, as recession woes continue to seemingly raise demand concerns with the economic outlook deteriorating further.

Earlier, Norwegian energy company Equinor ASA announced that it has closed a number of its oil fields due to the recent strikes.

West Texas Intermediate (WTI) for settlements in August plunged 1.83% at 5:49 am ET, to sell for $108.23 per barrel. At the same time, Brent for September settlements declined 1.52% to go for $111.84 per barrel.

Baha Breaking News (BBN) / AY