On Tuesday, oil prices fell below the US benchmark of $100, due to a growing recession fear that an economic downturn will reduce petroleum demand.
The U.S. benchmark for crude oil, West Texas Intermediate (WTI), ended the day 8.24%, or $8.93, down at $99.50 a barrel.
International benchmark Brent crude ended the day 9.45% down, or $10.73, at $102.77 a barrel.
Both contracts posted losses in June, breaking a streak of six consecutive months of gains as recession fears cause Wall Street to reevaluate the demand outlook.
In March, WTI reached a high of $130.50 a barrel, while Brent was just shy of the $140 mark. It was each contract’s highest level since 2008.
