U.S. oil futures settle in a bear market


Oil futures declined for a second session on Wednesday, with U.S. prices settling in a bear market – defined by a 20% or more decline from a recent high. Ongoing worries over a recession that could lead to a slowdown in energy demand have pressured prices for oil. West Texas Intermediate crude for August delivery fell 97 cents, or 1%, to settle at $98.53 a barrel on the New York Mercantile Exchange, the lowest front-month finish since April. Prices have fallen roughly 20.3% from the recent settlement high of $123.70 on March 8, according to Dow Jones Market Data.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleThe Margin: 5 things to know about Amazon Prime’s free Grubhub+ membership offer
Next articleThe Fed will continue to tighten despite risks to growth, meeting minutes reveal


Please enter your comment!
Please enter your name here