OIL PRICES CRASH AGAIN PROMPTING FEARS THAT RECESSION IS NEAR

Crude oil prices tumbled further in early trading on Thursday, after a brief stabilisation overnight crumbled under a new wave of recession fears. The international oil benchmark, Brent crude, was down $1.09 or 1.8 per cent to $58.39 per barrel, according to Investing.com. By 8:45 AM ET (1245 GMT), the US West Texas Intermediate, had fallen by 1.2 per cent to $54.55 per barrel, close to its lows for the week. Fears of a global recession, with all of its attendant effects on oil demand, surged again overnight as Beijing…

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