Brent crude was down 44c at $91.90 a barrel by while US West Texas Intermediate crude dipped 9c
London — Oil fell on Wednesday to a six-month low after a brief respite as concerns about the prospect of a global recession that would weaken demand overshadowed a report showing lower US crude and gasoline stocks.
Brent crude was down 44c, or 0.5%, at $91.90 a barrel by 8.15am GMT and earlier fell to $91.64, the lowest since February. US West Texas Intermediate crude dipped 9c, or 0.1%, to $86.44. Earlier, prices gained support from a report showing lower US crude and fuel stocks. Crude stocks fell about 448,000 barrels and gasoline by about 4.5-million barrels, said sources citing American Petroleum Institute figures on Tuesday.Oil has soared in 2022, coming close to an all-time high of $147 in March after Russia’s invasion of Ukraine worsened supply concerns. Prices have fallen since as those concerns were edged out by the prospect of recession.
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