Oil prices fell; extending sharp losses from the previous session, even after US inventories fell, as investors took stock of weak US data that raised recession fears in the world's largest economy.
Brent crude fell $1.31, or 1.6 percent, to $79.46, falling below the $80 mark for the first time since March 31. U.S. West Texas Intermediate crude fell 99 cents, or 1.3 percent, to $76.08. Oil prices have wiped out all gains since the OPEC+ alliance announced in early April a further production cut until the end of the year.
Source (Al-Arabiya.net Website, Edited)
