Oil prices drop to lowest level since October
market hours1 source ↓written by the desknot a recommendation
- to settle below
- 1.5%
- per barrel
- $58
- near
- $61
Oil prices fell sharply, with West Texas Intermediate down 1.5% to settle below $58 per barrel and Brent near $61. This decline was driven by disappointing earnings and a weaker equity market, overshadowing geopolitical tensions. The US seized a sanctioned tanker, while Ukraine targeted Lukoil's oil field, further impacting market sentiment.
Not investment advice. For informational purposes only.