For the first time since early May, oil falls below $100 a barrel.

Crude oil prices have dropped below $100 per barrel for the first time in almost two months,

Underscoring investors' rising worries about a US recession that could reduce demand for oil.

Tuesday saw a 10 percent drop in the price of West Texas Intermediate crude, which reached a low of $97.43 before completing the day at $99.50, down 8%.

 At its day's low of $101.10 a barrel, Brent crude oil was down more than 10% before ending at $102.77 at the close.

Since May 11, WTI hasn't gone below $100 for a single day. 

Also, Brent, which normally trades a little bit higher, last fell below $102 per barrel at that time. Since April 25, Brent has not fallen below $100.

Wholesale gas futures also decreased, closing the day down by roughly 10%, or 36 cents per gallon.