Oil prices experienced a decline by Monday midday, with West Texas Intermediate crude futures, the US benchmark, dropping by 0.8% to $72.92 a barrel. Similarly, Brent crude futures, the international benchmark, saw a decrease of 0.1% to $76.31 a barrel.
The recent drop in crude prices can be attributed to concerns surrounding a potential US recession impacting oil demand. Additionally, worries about weakened Chinese demand have contributed to the downward pressure on prices.
