LONDON: The price of the Brent crude, the main international oil contract, fell more than five per cent on Tuesday as new Chinese pandemic lockdowns revived recession concerns among investors.

Brent slumped 5.1pc to $99.78 per barrel at 1410 GMT, while the price of the main US crude contract, WTI, was down 4.8 percent at $92.31 per barrel.

Published in Dawn, August 31st, 2022