Prices of oil futures continued to fall on Monday, as concerns over further economic slowdown continued to rattle the demand for crude.
President and CEO of the Federal Reserve Bank of Richmond Thomas Barkin previously noted that the risk of recession is still present, as the central bank continues its fight to bring inflation down to the target of 2%.
West Texas Intermediate (WTI) for settlements in October slid 4.37% at 10:04 am ET, selling for $86.46 per barrel. At the same time, Brent for the same month's deliveries nosedived 4.43%, to go for $92.51 per barrel.
