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Oil prices fell more than $4 on Thursday amid expectations of interest rate hike by the US Federal Reserve later this month.
Brent crude futures for September fell by $4.05 to $95.52 a barrel while US West Texas Intermediate crude for August delivery declined by $4.67 to $91.63 a barrel.
Both futures hit their lowest since the beginning of the Russia-Ukraine war in February.
In the last two weeks, oil prices have plunged due to worries regarding recession amid the 40-year high inflation levels.
The US Federal Reserve, which is continuously working to control inflation, is scheduled for its policy meeting on July 26-27.
Picture Credits: Reuters
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