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Oil prices plunged to their lowest level since December 2021, with Brent oil falling 4% to $68.99 on Tuesday. Supply and demand issues, including a slowdown in China's economy, are pressuring prices.
Oil markets spiraled on the news, falling as much as 4% on Thursday. A report that Saudi Arabia would ditch its unofficial crude price target sent crude oil prices sharply lower on Thursday.
In the near term, as far as the demand for crude oil markets, it’s been a little different. Last month imports fell by about 10% from the month prior, and there’s been a year-over-year drop of ...
Prices of Brent crude, the global benchmark, declined 4% to about $79.50 a barrel on Tuesday. ... Oil Prices Keep Dropping Amid Economic Fears — Could It Last Through the Holidays and Beyond ...
Oil closed at its lowest level since June on Wednesday despite government data showing total crude inventories in the US dropped by 4.6 million barrels last week.
Crude was recently under $70 a barrel, well below the nearly $80 average it captured during the second quarter. Now the company's earnings and cash flow are likely to decline in the second half of ...
Crude prices slid on Tuesday amid continued concerns of lower demand and a whimpering recovery in China. The recent downward pressure on oil comes amid concerns that China's economy isn't roaring ...
June contract WTI crude oil prices plunged another 24% on Tuesday to $15.32 after May contracts dropped below $0 for the first time in history on Monday. U.S. crude oil storage capacity is maxed ...