Oil Prices Dip As Recession Fears Resurface

Oil prices fell early on Wednesday as the market assessed the latest hints from the Fed that one more rate hike could be coming in early May, which intensified concerns about a material economic slowdown that could weigh on oil demand. Early on Wednesday morning, the U.S. benchmark WTI Crude was down by 2.07% at $79.19, and the international benchmark Brent Crude was down by 2.05% on the day at $83.03.   Prices dipped on Wednesday after having risen on Tuesday following the industry report from the American Petroleum Institute (API), which…