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International oil prices fell sharply over the past night.

I think it would be nice if the oil price went down, but this time it's not so welcome.

There are many predictions that the global economy will sink in the future, and oil prices have fallen because of the thought that there will be fewer places to find oil.



This news will be delivered by Correspondent Kim Jong-won from New York, USA.



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Today (6th), West Texas Intermediate fell below $100 for the first time in two months since May.



Brent also fell more than $10 a barrel, trading at its lowest price since May.



The reason the price of oil has fallen this way even though supply has not increased is that it is highly likely that demand will decrease due to concerns about an economic downturn.



[Michael Boseljang/Cap Trust Chief Investor: The Fed will keep raising interest rates, and that will result in a recession.

That's exactly what the market is focusing on today.] The



White House once again denied the recession, but



[Carine Jean-Pierre/White House Spokesperson: I don't believe a recession is going on right now.

We have direct, concrete, non-partisan evidence to prove this.]


Enlarging an image

Signs of a recession are being felt everywhere.



The yield on the short-term two-year U.S. Treasury bond has inverted the yield on the 10-year U.S. Treasury bond.



The longer the loan period, the higher the compensation for risk, that is, the interest rate.



This is usually seen as a harbinger of a recession.



In all seven economic recessions since 1970, including the 2008 global financial crisis, the interest rate inversion occurred first.



Debate continues today as to whether or not it is a harbinger of an economic downturn, but if this inversion of long-term and short-term government bond yields continues, investment and consumption will contract and lead to an economic downturn.



This reversal is already the third time this year alone.



(Video coverage: Lee Sang-wook, video editing: Cho Moo-hwan)



▶ The highest exchange rate in 13 years…

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