Brent crude has fallen below a key threshold of $70 per barrel, and analysts expect it to fall further.
Falling oil prices lessen the odds of a US recession, market veteran Ed Yardeni said.
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That puts the commodity at its lowest level in three years, breaking past a key threshold of $70 per barrel.
Although falling prices might spell trouble for oil producers who hinge on the product, it could ease the chances of a US recession, one economist wrote.
Persons:
Brent, Ed Yardeni, —
Organizations:
Service, Business