Oil plunged to eight-month lows on growing recession fear
Oil plunged to eight-month lows on growing recession fear
International benchmarks for crude oil plunged about 5% on Friday, 23 September 2022 after several major economies around the world lifted key interest rates, heightening the risk of a global recession that would ultimately dent oil demand.
Brent fell $4.31 or 4.8% to close at $86.15/barrel.
WTI nosedived $4.75 or 5.7% to close at $78.74/barrel.