Oil tumbles more than 9%, breaks below $100 as recession fears mount

July 5, 2022

Oil prices tumbled Tuesday with the U.S. benchmark falling below $100 as recession fears grow, sparking fears that an economic slowdown will cut demand for petroleum products.

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Dow falls 600 points as Wall Street grapples with recession concerns

Stocks fell on Tuesday as concerns about a possible recession in the U.S. weighed on investor sentiment.

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Only one thing will send gas prices back below $4 a gallon, analyst says

Despite West Texas intermediate crude oil futures dipping below $100 per barrel on Tuesday, serious gas price relief may be unlikely happen until motorists make adjustments by driving less.

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