This was driven by the prospect of higher interest rates, weaker global growth, and COVID-19 lockdowns in China.

These factors could hurt demand, even as the European Union weighs a ban on Russian oil.

Brent crude was down $1.48 at $106.85 a barrel.

U.S. West Texas Intermediate crude futures declined $1.51 to $102.27 per barrel.

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Readers Bureau, Contributor

Edited by Jesus Chan

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