Oil prices plunged by around nine percent on Tuesday on concerns that a global recession could hit demand.
West Texas Intermediate was down more than 10 percent, but pared that decline to about 8.2 percent.
It closed at ninety-nine dollars fifty cents a barrel, falling below a hundred dollars for the first time since mid-May.
Brent crude was down about 9-and-a-half percent to around one-hundred-three dollars.
For both benchmarks, these were their biggest daily percentage declines since early March.
Experts say oil prices could go lower if a recession does hit.