Crude oil slumps 5 percent on recession concerns8 Sep 2022 08:04
"The fall, triggered by Russia's threat to cut oil and gas completely, pushed Brent below $90 and WTI to $82.
Crude oil fell sharply due to the stagnation in the global economy, especially in Europe and the West, and the associated decline in energy demand. Russian President Vladimir Putin's threat to "stop all natural gas and oil exports if he imposes price limits on oil" was effective in the decline.
In international markets, the price of Brent crude oil decreased by 4.6 percent to $ 88.5, while West Texas type WTI depreciated by 5 percent and fell to $ 82. "