Oil slumps nearly 3pc as investors eye US Fed rate hikes, The News International – Business

NEW YORK: Oil prices tumbled about 3 percent on Wednesday as investors worried that rate hikes by the Federal Reserve could push the US economy into recession, dampening demand for fuel.Brent crude futures were down $2.95, or 2.6 percent, to $111.70 a barrel by 1643 GMT. It hit a session low of… Read More

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