Oil prices fall sharply; Crude prices tumble more than 3%

Oil today fell sharply after slumping in the previous session. The crude prices tumbled more than three percent amid concerns about weak demand due to the state of the global economy and China's rising COVID cases. In intra-day trade, Brent crude was trading at 79 dollars and 45 cents per barrel while WTI crude price was at 74 dollars and 45 cents per barrel.