Oil Prices Dip on China Demand Worries

Yang Mei Hu oil products tanker owned by COSCO Shipping gets moored at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia, on June 13, 2022. Tatiana Meel/Reuters

LONDON—Oil prices slipped on Tuesday as recession concerns and worsening COVID-19 outbreaks in top crude importer China heightened fears of lower fuel demand.

Brent crude fell 84 cents, or 0.9 percent, to $97.08 a barrel by 1006 GMT while U.S. West Texas Intermediate (WTI) crude fell 96 cents, or 1 percent, to $90.83.