Global benchmark Brent crude LCOc1settled at US$102.77 a barrel, losing $10.73, or 9.5%. U.S. West Texas Intermediate (WTI) crude CLc1ended8.2%, or $8.93, lower at $99.50 a barrel. There was no WTI settlement on Monday because of a U.S. holiday.
NEW YORK: Oil price plummeted about 9% on Tuesday in the biggest daily drop since March on growing fears of a global recession and lockdowns in China that could slash demand.
Global benchmark Brent crude LCOc1settled at US$102.77 a barrel, losing $10.73, or 9.5%. U.S. West Texas Intermediate (WTI) crude CLc1ended8.2%, or $8.93, lower at $99.50 a barrel. There was no WTI settlement on Monday because of a U.S. holiday.
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