Minneapolis (CNN Business)Crude oil prices have fallen below $ 100 per barrel, reflecting investors. Growing concerns about the US recession, which could weigh on oil demand.
West Texas Intermediate crude oil prices fell nearly 10% on Tuesday to below $ 98 a barrel. Brent crude fell by more than 10% to below $ 102 per barrel.
WTI has fallen below $ 100 for the first time since May 11th, and Brent has fallen below $ 100 for the first time since April 25th.
Wholesale gas futures also fell, down 35. 1 gallon cent for trading at noon, or 9% for the day.
According to the latest AAA measurements, the national average cost of a gallon of gas in a pump is currently $ 4.80, down one penny from Monday and eight cents from a week ago. Gas prices peaked at $ 5.02 on June 14.
This story is evolving and will be updated.
