Commodities
Brent Crude Slides Amid Recession Fears
Brent crude oil prices fell to $106.57 per barrel on September 15, marking a decline of $3.85 from the previous day's level.
The drop in price is attributed to recession fears weighing on energy markets, with traders pricing in the possibility of economic growth stalling.
Despite the pullback, Brent crude remains roughly $39 above its level from twelve months ago, indicating that supply-side pressures continue to drive prices upwards.
The inflation feedback loop is also a contributing factor, as higher transportation costs and fuel prices trickle down into other goods and services.