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Brent crude falls 5 percent on recession fears

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Agence France-Presse

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Pump jacks of the German Wintershall Dea company convey crude oil as the sun sets behind an oil field near the German-Durch border in Emlichheim, Germany, 22 March 2022. Sascha Steinbach EPA-EFE" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/business/06/22/pump-jacks-german-wintershall-dea-company-epa-6222022.jpg"/><figcaption>Pump jacks of the German Wintershall Dea company convey crude oil as the sun sets behind an oil field near the German-Durch border in Emlichheim, Germany, 22 March 2022. <em>Sascha Steinbach EPA-EFE</em></figcaption></figure></div><p>LONDON - The price of the Brent crude, the main international oil contract, fell more than five percent on Tuesday as new Chinese pandemic lockdowns revived recession concerns among investors.</p><p>Brent slumped 5.1 percent to $99.78 per barrel at 1410 GMT, while the price of the main US crude contract, WTI, was down 4.8 percent at $92.31 per barrel.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/06/12/22/cash-strapped-sri-lanka-announces-weekly-fuel-quotas">Cash-strapped Sri Lanka announces weekly fuel quotas</a></li>	<li><a href="https://news.abs-cbn.com/business/05/09/22/g7-countries-pledge-to-stop-russia-oil-imports">G7 countries pledge to stop Russia oil imports</a></li>	<li><a href="https://news.abs-cbn.com/business/04/30/22/indonesias-palm-oil-export-ban-heats-up-vegetable-oil-market">Indonesia&#x27;s palm oil export ban heats up vegetable oil market</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1958090" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

The price of the Brent crude, the main international oil contract, fell more than five percent on Tuesday as new Chinese pandemic lockdowns revived recession concerns among investors.