Oil prices fell to their lowest in more than four years in early trade on Wednesday, weighed down by demand concerns, as the escalating trade war between the United States and China, the world's two largest economies, ignited anxiety in markets, amid expectations of increased supplies.
Brent crude futures fell $2.13, or 3.39 percent, to $60.69 a barrel. U.S. West Texas Intermediate crude futures fell $2.36, or 3.96 percent, to $57.22 a barrel.
Brent crude hit its lowest level since March 2021, while West Texas Intermediate crude reached its lowest level since February of the same year.
Source (Al-Arabiya.net Website, Edited)
