Crude oil prices continued downtrend on Wednesday for the third straight session amid mounting risks of recession that would weaken demand for the commodity. The IMF downgraded its 2023 growth forecast for the global economy due to high inflation, tighter financial conditions, Russias invasion of Ukraine and the lingering Covid-19 pandemic, saying ?more than a third of the global economy will contract this year or next,? and that ?2023 will feel like a recession? to many people. WTI crude oil futures are currently quoting down 0.82% at $88.64 per barrel. Powered by Commodity Insights
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