New York: Global crude oil prices have fallen further to touch the three-month low due to a weak demand outlook over growing concerns of a recession.
This is the first time in the past three months when the crude prices fell to such levels.
Futures contracts of West Texas Intermediate crude oil traded at USD 96.09 per barrel. Brent crude futures dropped 68 cents, or 0.7 per cent, to USD 98.81 a barrel. US West Texas Intermediate crude declined 72 cents, or 0.8 per cent, at $95.12, also the lowest in three months.
Investors have sold oil positions on worries that aggressive interest rate hikes to stem inflation will spur an economic downturn that will hit oil demand. (QNA)
