Oil at 8-Month Low on Recession Fears

Oil prices hovered at an eight-month low on Tuesday, as concerns over a US recession and the impact of conditions in the Middle East on supplies persist. Brent crude futures fell 4 cents, or 0.1 percent, to USD76.77 a barrel, while West Texas Intermediate crude futures fell 13 cents, or 0.2 percent, to USD73.39 a barrel. On Friday, Brent and West Texas Intermediate crude futures fell more than 3 percent to close at their lowest levels since January. Source: Qatar News Agency