Oil prices fall more than 3% on recession fears

NEW YORK — Oil prices plunged more than 3% on Friday as global recession fears and weak oil demand, particularly in China, outweighed support from a big OPEC+ supply target cut.

Brent crude oil Futures fell $2.94, or 3.1%, while settling at $91.63 a barrel US West Texas Intermediate (WTI) crude oil futures fell $3.50, or 3.9%, to $85.61.

The Brent and WTI contracts both fluctuated between positive and negative territory for much of Friday, but fell 6.4% and 7.6% over the week,…

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