Brent oil falls below $70, WTI drops, amid slowing global economy concerns and reduced fuel demand.

Brent crude oil has fallen below $70 per barrel for the first time since December 2021, closing at $69.15, a 3.7% drop. West Texas Intermediate (WTI) also decreased by 4.1% to $65.90. This decline is linked to concerns over a slowing global economy, which may reduce fuel demand. The situation reflects increased fears about energy consumption amid economic uncertainties, despite OPEC+ extending production cuts through November.

September 10, 2024
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