Global oil price dropped below $100 a barrel for the first time since April

There are fears of upcoming Recession and this could be the cause behind falling oil price

Energy experts claimed there was not a fundamental shift in the energy market...

Other commodities like metals are also decreasing in value

If the recession is a reality, high inflation will definitely cause a drop in demand for oil

There is no indication that the Russian conflict in Ukraine will come to an end anytime soon

If Europe is unable to meet its demand for natural gas in the winter months ahead utilities could have to burn more crude oil.  This could cut the supply of gas and push up prices for crude.

The cost of Brent crude, the world's oil benchmark, dropped on Wednesday, reducing three percent, to $99.61


The New York Times