oil futures fell sharply on tuesday with us prices settling at their lowest level in over five weeks “recession fear is like a hurricane that destroys everything along its path oil included” said manish raj managing director at velandera energy partners “it does not matter that fundamentals for oil are now stronger than ever with rising demand and falling supply in the foreseeable future” june west texas intermediate crude clm23 fell 4 or 53 to settle at 7166 a barrel on the new york mercantile exchange that was the lowest finish for a frontmonth contract since march 24 according to dow jones market