Wall Street

Brent falls as recession fears deepen demand concerns

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Reuters UK

By Bozorgmehr Sharafedin LONDON (Reuters) -Brent oil slipped on Tuesday as concerns of a possible global recession curtailing demand outweighed supply disruption fears, highlighted by an expected production cut in Norway. Brent crude was $1.33, or 1.2%, lower at $112.17 a barrel by 1231 GMT, while U.S. West Texas Intermediate (WTI) crude rose 30 cents, or 0.3%, to $108.73 a barrel from Friday’s close. There was no settlement for WTI on Monday because of the U.S. Independence Day public holiday. Investors are becoming more concerned as the latest surge in gas and fuel prices adds to worries abo…

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