Oil prices down 3% with recession fears in focus

Oil prices down 3% with recession fears in focus

Oil prices fell on Friday as demand fears were stoked by rising interest rates and a stronger dollar, though losses were capped by Moscow's mobilization campaign in its war with Ukraine and apparent deadlock in talks on reviving the Iran nuclear deal. Brent crude futures fell $2.81, or 3.11%, to $87.65 a barrel. U.S. West Texas Intermediate (WTI) crude futures were also down, retreating by $2.93, or 3.51%, to $80.56. Front-month Brent and WTI contracts were down 4.03% and 5.37% …