NEW YORK: Oil prices fell by more than $2 a barrel on Thursday in volatile trading as investors weighed the risk that rising US interest rates could trigger a recession and cut demand for fuel.
Brent crude futures fell $2.26 cents, or 2 percent, to $109.48 by 1:04 p.m. ET (1704 GMT). US West Texas Intermediate (WTI) crude futures were down $2.48, or 2.3%, at $103.71.
US Federal Reserve chief Jerome Powell said the central bank’s focus…