Oil slides 2% to 12-week low on fears of global recession

Published Wed, Jul 6 202212:46 AM EDTUpdated Wed, Jul 6 20223:43 PM EDT

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An aerial view of Phillips 66 oil refinery is seen in Linden, New Jersey, United States on March 8, 2022.

Tayfun Coskun | Anadolu Agency | Getty Images