WTI crude oil futures, a benchmark for U.S. light oil, dropped to $58.95 per barrel in early trading on April 7, the lowest level since mid-April 2021, as fears of a recession and expectations of increased supply continued to put downward pressure on prices.
Brent crude oil futures fell to a low of $62.51 per barrel, the lowest level in roughly four years. WTI was up to $61.58 and trading 1.45 percent higher for the day as of 8:30 p.m. EDT, while Brent futures ended up at $64.89, trading 1.09 percent higher.
