Oil falls below $100 as recession fears weaken demand


Oil futures fell below $100 a barrel for the first time since May amid growing concerns that a global economic slowdown will ultimately cripple demand.

est Texas Intermediate crude oil futures fell as much as 9.3 percent to nearly $98 a barrel. Oil came under pressure yesterday in a session of low liquidity as stocks fell and the dollar rose, making commodities traded in the currency less attractive. Citigroup said crude oil could fall to $65 this year in the event of a recession, a view that stands in stark contrast to JP Morgan Chase’s most bullish $380-a-barrel scenario. Oil falls below $100 as recession fears weaken demand

Fry Electronics Team

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