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WTI crude oil prices closed at a 22-week low on Monday (August 1).

 Last Update: 2023-02-06
 Source: Internet
 Author: User

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According to Dow Jones on August 1, the U.
S.
benchmark oil price fell 4.
8% to $93.
89 a barrel on Monday, closing at its lowest level since Feb.
25, and the global benchmark oil price fell below $100, and energy investors began to pay attention to weak data
from the United States and other major economies.
The report released today showed that US factory growth slowed last month due to lower orders, while construction spending fell in June and was lower than expected
.
This follows the GDP report released last week showing that the US economy has contracted
for two consecutive quarters.
West Texas Intermediate crude is currently at its lowest level
since the geopolitical conflict at the end of February.

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