Oil prices fall more than 3% on recession worries; in for another tough week

SINGAPORE, Oct 15 (Reuters): Oil prices plummeted more than 3% on Friday night (Oct 14) as global recession fears and weak oil demand, especially in China, outweighed support from a large cut to the OPEC+ supply target.

Brent crude futures dropped US$2.94, or 3.1%, to settle at US$91.63 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell US$3.50, or 3.9%, to US$85.61.