Oil tumbled on growing recession risks
Oil tumbled on growing recession risks
International benchmarks for crude oil tumbled about 3% on Wednesday, 22 June 2022 as investors eye additional rate hikes from the Federal Reserve that could push the US economy into a recession.
Brent fell $2.91 or 2.5% to settle at $111.74/barrel.
WIT plunged $3.33 or 3% to close at $106.19/barrel for August delivery.