WTI drops to June low as economic uncertainty continues - Breaking The News

WTI drops to June low as economic uncertainty continues

6 December

1 min read

EPA-EFE/TANNEN MAURY

Prices of oil futures fell over 3% on Wednesday as market sentiment remained affected by the questions surrounding the economic recovery of the world's largest oil importer, China, and the ability of western nations to avoid slow growth or a recession in 2024.

West Texas Intermediate (WTI) for settlements in January 2024 dropped 3.60% to $69.58 per barrel and Brent for deliveries in February 2024 fell by 3.19% to $74.63 per barrel at 11:11 am ET. WTI landed at a low last seen in June 2023, while Brent hit a July 2023 low.

oil

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