oil futures declined on wednesday with us prices marking their lowest settlement since jan 11 factset data show oil prices shrugged off russian president vladimir putin’s threats of shutting off supply to those willing to participate in the g7s oil price cap scheme that tells you quite a lot about what a mix of the us dollar at 20year highs chinese zerocovid policy a nearcertain coming european recession this winter and what looks increasingly like a potential global recession are doing to demand expectations said troy vincent senior market analyst at dtn october wti crude clv22 fell 494 or 57 to settle at 8194 a barrel on the new york mercantile exchange