Oil prices fell again on Friday, hitting their lowest levels since December 2021. It is increasingly clear to analysts that bearish economic forces are outweighing the positive impact of China’s recovery and sanctions against Russia.
West Texas Intermediate crude oil futures, the US benchmark, fell to as low as $65.17 a barrel on Friday, down 4.7% from Thursday’s settlement. Brent crude, the international benchmark, fell as much as 4.4%, to $71.40 a barrel. Both products rebounded around midday, but still traded lower on the day. Brent is down about 15% in just the past 10 days. The
Energy Select Sector SPDR ETF
(code: XLE) down 1.5%
