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Brent oil falls 5% on recession fears

US lawmakers say oil giants 'greenwashed' image while hampering climate action
Source: Pixabay

The price of the Brent crude, the main international oil contract, fell more than five percent on Tuesday as new Chinese pandemic lockdowns revived recession concerns among investors.

Brent slumped 5.1 percent to $99.78 per barrel at 1410 GMT, while the price of the main US crude contract, WTI, was down 4.8 percent at $92.31 per barrel.


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Agence France-Presse (AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency.

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