Oil Updates — Crude falls as recession looms; Nord Stream set for planned shutdown; power cut at TotalEnergies’ Feyzin refinery

RIYADH: Oil prices fell around $1 on Monday in volatile trade, reversing some gains from the previous session as worries about a recession and China’s COVID-19 curbs hitting demand outweighed ongoing concerns about tight supply.

Brent crude futures fell 82 cents, or 0.8 percent, to $106.20 at 0314 GMT after climbing 2.3 percent on Friday.

US WTI crude futures declined by $1.04, or 1 percent, to $103.75, paring a 2 percent gain from Friday.

Nord Stream Russian gas link set for planned shutdown