Oil prices fell in early trading after rising in the previous two sessions, as investors remained cautious due to ongoing concerns about a possible recession in the United States and weak oil demand.
Brent crude fell 33 cents, or 0.38%, to $87.00 a barrel, while U.S. West Texas Intermediate crude fell 28 cents, or 0.34%, to $82.98.
The two benchmark crudes rose 2 percent to their highest levels in more than a month, however, the previous monetary tightening, which saw interest rates raised to their highest levels since 2007, raises fears that the U.S. central bank's focus on halting inflation will curb economic growth and future demand for oil in the world's most used country.
Source (Al-Arabiya.net Website, Edited)
