Oil prices continued to slide on Wednesday on investor worries about the ailing state of the global economy, the prospect of central bank interest rate hikes, and increased restrictions to curb COVID-19 in China.
Brent crude futures for October, due to expire on Wednesday, were down $3.56 at $95.75 a barrel following Tuesday’s $5.78 loss. The more active November contract was down $2.70, or 2.76%, at $95.14 a barrel.
U.S. West Texas Intermediate (WTI) crude futures were down $2.58, or 2.82%, at $89.06 a barrel by 0939 GMT, after sliding $5.37 in the previous session on recession fears. — Reuters
