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Markets spiraled on the news, dropping over 3%. Brent crude, the international benchmark, fell as low as $70.7 as of 11:00 am ET. An even steeper decline hit US West Texas Intermediate, hitting ...
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 prices dipped to their lowest point of the year this week despite the recent announcement by OPEC and its ... Prices of Brent crude, the global benchmark, declined 4% to about $79.50 a barrel ...
One result of those slack prices is that U.S. average pump prices for gasoline fell to $3.03 a gallon this week, the lowest since May, 2021 and well down from their record peak of $5.02 from June ...
U.S. crude oil and distillate inventories were expected to have fallen last week, while gasoline stocks likely rose, a preliminary Reuters poll showed ahead of a report from the American Petroleum ...
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 ...
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The mere anticipation of production going materially higher could cause oil prices to "fall at least 10% if not closer to 20%" to the $70 or high-$60s per barrel level, said the analyst.