Today.Az » World news » Oil prices drop amid recession fears
24 June 2022 [22:48] - Today.Az

By Trend

Oil prices fell on Thursday, weighed by rising fears about a recession, Trend reports citing Xinhua.

The West Texas Intermediate for August delivery lost 1.92 U.S. dollars, or 1.8 percent, to settle at 104.27 dollars a barrel on the New York Mercantile Exchange. Brent crude for August delivery decreased 1.69 dollars, or 1.5 percent, to close at 110.05 dollars a barrel on the London ICE Futures Exchange.

Investors grew fearful that the tightening monetary policy measures implemented by central banks might slow the economy significantly, which could hurt energy demand.

Copyright © Today.Az