Oil plummeted by about $10 a barrel today on concerns of a looming global recession curtailing demand, even with expected supply disruptions as oil and gas workers in Norway began to strike.
Global benchmark Brent crude was down $10.77, or 9.5%, at $102.73 a barrel in late morning trading.
U.S. West Texas Intermediate (WTI) crude fell $9.30, or 8.6%, to $99.13 a barrel from Friday's close.
There was no WTI settlement on Monday because of a U.S. holiday.
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