Oil Prices Drop Below $100 A Barrel — Lowest In Three Months

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Oil prices fell below $100 a barrel amid fears of a global recession outweighed supply concerns.

On Wednesday, Brent Crude, the global oil benchmark, dropped 3.28 percent to trade at $99.40 a barrel — the first time since February 20, 2022.

Oil Prices Drop Below $100 A Barrel — Lowest In Three Months

West Texas Intermediate (WTI) crude plunged 4.21 percent to $95.31 a barrel.

The development comes as Goldman Sachs, on Wednesday, attributed the fall in the price of the commodity to growing recession fears.