Brent crude slides below $85 a barrel as dollar surges

Brent crude fell below $85 a barrel Monday, as recession fears weighed and the U.S. dollar surged. The drop in oil prices is a “macro move led by a stronger dollar,” according to Amrita Sen, co-founder and director of research at Energy Aspects. It comes as central banks around the world continue to hike interest rates in an effort to tackle inflation. On Friday, both Brent and WTI futures fell around 5% to hit their lowest level since January.

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