Oil Prices Fall 3 Percent on Recession Fears

Oil Prices Fall 3 Percent on Recession Fears
Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Okla., on April 21, 2020. Drone Base/Reuters
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LONDON—Oil prices continued to slide on Wednesday on investor worries about the ailing state of the global economy, bearish oil demand signals from OPEC+, and increased restrictions to curb COVID-19 in China.

Brent crude futures for October, due to expire on Wednesday, were down $3.41 at $95.90 a barrel following Tuesday’s $5.78 loss. The more active November contract was down $2.97, or 3.04 percent, at $94.87 a barrel.