On October 12, international crude oil futures closed lower. As of Wednesday, oil prices had fallen for three consecutive days. The settlement price of the main contract of US WTI crude oil futures was 87.27 US dollars/barrel, down 2.08 US dollars or 2.3%; The settlement price of the main contract of Brent crude oil futures was 92.45 dollars/barrel, down 1.84 dollars or 2.0%. The expectation of further interest rate increase by the Federal Reserve has made the US dollar continue to strengthen; More importantly, the market is worried about the impact of economic recession on oil demand.

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