Oil prices down in Europe

Oil prices gave ground on Monday, penalized by fears of a global recession impacting demand for black gold.

A barrel of Brent from the North Sea, for delivery in September, dropped 1.81% to 105.08 dollars. A barrel of American West Texas Intermediate (WTI), for delivery in August, fell 2.28% to 102.4 dollars.

Recession fears and black gold supply shortages have been vying for the top spot in the oil market for weeks.

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