Brent crude slides below $85 a barrel as dollar surges

An aerial view of Phillips 66 oil refinery is seen in Linden, New Jersey, United States.

Tayfun Cosku | Anadolu Agency | Getty Images

Brent crude fell below $85 a barrel Monday, as recession fears weighed and the U.S. dollar surged.

Brent futures for November settlement had been buying and selling down over 1% round $84.92 at 8 a.m. London time. West Texas Intermediate futures additionally fell to commerce round $77.93.

On Friday, each Brent and WTI fell round 5% to hit their lowest stage since January.

The fall comes as central banks around the globe — together with the U.S. and the U.Okay. — proceed to hike rates of interest in an effort to sort out inflation.

This is a breaking information story and might be up to date shortly.

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