Oil prices have fallen below $95 a barrel for the first time since Russia invaded Ukraine, as fears of an impending global recession grip commodity markets and batter forecasts for demand.
Both major benchmarks for crude shed more than $5 a barrel on Thursday, or more than 5 per cent, adding to a broad rout over the past six weeks.
Brent, the international benchmark, fell as low as $94.50 a barrel. It closed at $96.84 on February 23, the day before Russia invaded Ukraine. US marker West Texas Intermediate dropped to $90.56, below its close of $92.10 before the war.
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