US oil prices hit lowest level in nearly a year. Gas is down 6% in a month

[Scott]

 

US oil prices have fallen to their lowest level since December 2021 on concerns that protests in China against Covid-19 lockdowns will dent demand.

West Texas Intermediate crude oil futures, the US benchmark, slid 2.7% on Monday to trade close to $74 a barrel, a level last reached in December 2021. Futures for Brent crude, the global benchmark, dropped 2.9% to trade close to $81 a barrel. That’s its lowest level since January.

Global oil prices have fallen about 35% since June as strict coronavirus restrictions in China have kept demand weak, and as some of the world’s major economies have signaled they are heading toward a recession.

https://www.cnn.com/2022/11/28/energy/us-oil-prices-china-protests/index.html