Oil prices drop on world markets
Oil prices slipped on Monday, along with stock markets in Asia, sparked by fears a global recession could dampen oil demand, with investors eying European Union talks on a Russian oil embargo that is expected to tighten global supplies, News.Az reports citing Reuters.
Brent crude dropped 28 cents, or 0.3%, to $112.11 a barrel by 0153 GMT.
U.S. West Texas Intermediate crude was at $109.36 a barrel, down 41 cents, or 0.4%.
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