• Oil prices fall 7% as recession fears mount and Biden calls for a 3-month gas tax holiday

    2 days ago - By Business Insider

    A Sunoco gas pump reading shows more than $54 as a man pumps gas. Aimee Dilger/SOPA Images/LightRocket/Getty Images Crude oil prices plunged as much as 7% on Wednesday as fears of an economic recession surge. Deutsche Bank is the latest Wall Street bank to estimate imminent recession odds at 50%. The decline in oil comes as President Joe Biden announces a gas tax holiday during the summer months. Crude oil prices plunged on Wednesday as investor fears of a coming recession continue to rise and as President Joe Biden's administration called on Congress to implement a summer gas tax holiday...
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