U.S. West Texas Intermediate crude futures fell 2.9%, to $103 a barrel. Oil prices added to losses from the previous session on Thursday, dropping more than 2%. Investors worried that aggressive U.s. interest rate hikes could trigger a recession and dent fuel demand.

Both benchmarks tumbled around 3% on Wednesday to hit their lowest levels since mid-May. Investors remain concerned that central banks could push the world economy into recession with interest rate increases. Brent crude futures dropped 2.5%, to $108 a barrel. Average price for a gallon of gasoline slipped again on Wednesday, remaining below the $5 threshold for a fifth straight day.

The price of a gallon of gasoline declined to $4.955, according to AAA. The price on Tuesday fell to £4.968, the group said. The average price of gasoline in the U.S. is $3.89 per gallon, AAA says.
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