Oil Prices Hit 14-Month Low Amid Demand Concerns

Oil Prices Dip Amid Global Demand Concerns

Oil prices have reached their lowest point in 14 months, driven by concerns over demand from the United States and China, along with a potential increase in supplies from Libya. On Thursday, futures dropped slightly, with Brent crude settling at $72.69 a barrel and U.S. West Texas Intermediate (WTI) crude falling to $69.15. This marks a consecutive low for Brent since June 2023 and for WTI since December 2023.