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Market worries about economic recession, international crude oil prices fall

23 Jun 2022 17:27 reported by Liv Wang

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After the Federal Reserve raised interest rates, international crude oil prices fell as much as 4% yesterday (June 22). Investors worried that a slowdown in the US economy may weaken energy demand.

Light sweet crude prices on the New York Mercantile Exchange (NYMEX) for August delivery decreased by 3.04% to US$106.19/barrel. Brent crude for August delivery slid by 2.54%, reaching US$111.74/barrel.

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