Source: Pixabay
The US benchmark oil contract, WTI, traded under $70 per barrel Wednesday for the first time since OPEC+ cut output a month ago in a bid to bolster prices.
After going under $70 on recession fears, WTI recovered slightly to $70.12, still a loss of 2.2 percent. The European benchmark, Brent North Sea crude, shed 2.0 percent to $73.84.