Oil falls on fears of recession and slow recovery in China's imports

摘要

Oil prices fell, to near multi-month lows, after the recession hit demand and data pointed to a slow recovery in China's imports of crude oil last month. Brent crude futures fell 74 cents, or 0.8%, to $94.18 a barrel by 03:30 GMT, and prices for the closest contract month recorded their lowest levels since February, last week, down 13.7% and recording their largest weekly decline since April 2020.