22-06-2022
Oil prices fell during trading on Wednesday, heading towards recording monthly losses, with increasing concerns about the possibility of the US economy heading towards a recession due to the impact of high interest rates.
Federal Reserve Chairman Jerome Powell is due to testify before Congress on Wednesday about his efforts to curb inflation at the fastest pace in decades.
Brent crude futures fell 4.6% at $110 a barrel, and US crude futures fell 4.8% to $104.7 a barrel.