Oil futures dropped sharply Tuesday on mounting concerns that the U.S. economy may be heading toward a recession that would dampen demand for crude. While the Federal Reserve’s interest rate cut helped crude futures recover some of their earlier losses, many investors doubt the move will stave off a serious slowdown. High energy prices also have been cited as a force pushing the economy toward recession. If oil prices continue to fall, as many analysts now expect, that could relieve some pressure on the economy. In London, Brent crude futures for March delivery fell 4 cents to $87.47 a barrel on the ICE Futures exchange.
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