Oil prices slump as recession fears rise

Another turbulent week in oil markets took crude prices to their lowest level since January, with weak trading and a hazy outlook for supply and demand driving a choppy 30% drop from highs this year.

Notwithstanding a 5.9% gain since Wednesday, the main U.S. oil benchmark has lost about $35 a barrel since peaking above $122 three months ago. West Texas Intermediate closed Friday at $86.79. Brent crude futures, the main international price indicator, ended at $92.84.


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