Oil Prices Plunge Below $80 a Barrel as China's Economic Slowdown Raises Concerns About Global Demand

Benzinga
Benzinga
  • 3 months ago
U.S. crude oil futures fell to the lowest levels since early June due to concerns about China's slowing economy weakening demand. West Texas Intermediate crude for September delivery fell, settling at over $75 per barrel. Brent crude for September delivery fell, coming in at just under $80 per barrel. China's economic turmoil, including sluggish growth and falling crude imports, weighs on oil prices. Geopolitical tensions in the Middle East between Israel and Iran-backed militias in Lebanon threaten further escalation.
Transcript
00:00It's Benzinga, and here's what's on the block.
00:02U.S. crude oil futures fell to the lowest level since early June due to concerns about
00:07China's slowing economy weakening demand.
00:09West Texas intermediate crude for September delivery fell, settling at over $75 per barrel.
00:15Brent crude for September delivery fell, coming in at just under $80 per barrel.
00:19China's economic turmoil, including sluggish growth and falling crude imports, is weighing
00:24on oil prices.
00:25Geopolitical tensions in the Middle East between Israel and Iran-backed militias in Lebanon
00:30threaten further escalation.
00:31For all things money, visit Benzinga.com.

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