US oil contract WTI falls below $80 on recession fears
Caption: The main US oil contract tumbled below $80 a barrel on Friday -- the lowest point since January -- over fears of a global recession and a rising greenback.
The main US oil contract tumbled below $80 a barrel on Friday -- the lowest point since January -- over fears of a global recession and a rising greenback.
Around 1305 GMT, WTI was down 4.19 percent to $79.99 per barrel. The international benchmark, Brent North Sea crude, shed 3.59 percent to $87.21.