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Oil prices tumbling more than 1% on Tuesday, extending the previous day’s steep declines as coronavirus lockdowns in top oil importer China, a strong dollar and growing recession risks fed worries about the outlook for global demand.
Brent crude fell $1.31, or 1.2%, to $104.63 at 0216 GMT after slipping to as low as $103.19.
U.S. West Texas Intermediate crude fell $1.25, or 1.2%, to $101.84 a barrel after hitting an intraday low of $100.44. – Reuters