7/6, 4:42 PM (Source: TeleTrader)
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Oil drops 3% to April 2022 lows

Prices of oil futures continued to fall on Wednesday, losing over 3% at one point and landing at April 2022 lows. Traders still seem to be rattled by the prospect of a global economic downturn and will keep monitoring incoming data reports to determine how the situation in energy markets will unfold.

West Texas Intermediate (WTI) for settlements in August fell by 2.85% to sell for $96.80 per barrel at 10:32 am ET, while Brent for deliveries in the same month lost 2.70%, going for $100.03 per barrel concurrently.

Baha Breaking News (BBN) / MS