Oil price deepens slide on recession fears, China's trade threats

Brent crude fell as much as $1.81, or 3%, to $57.67 a barrel. The international benchmark was $1.23, or 2.1%, lower at $58.25 and West Texas Intermediate crude (WTI) was down 75 cents, or 1.4%, to $54.48 by 12:32 p.m. ET (1632 GMT)

NEW YORK: Oil prices fell more than 1% on Thursday, extending the previous session's 3% drop, pressured by mounting recession concerns and a surprise boost in U.S. crude inventories.

In a sign of investor concern that the world's biggest economy could be heading for recession, weighing on oil demand, the U.S. Treasury bond yield curve inverted on Wednesday for the first time since 2007.