Oil prices fell by more than five percent on Wednesday. Brent crude futures dropped $6.21, or 5.9 percent, to $98.28 per barrel.
Meanwhile, U.S. West Texas Intermediate (WTI) crude futures fell $4.67, or 5.1 percent, to $87.68 per barrel. Both benchmarks had risen by about five percent on Tuesday before gains receded in volatile trading after the close.
