Oil prices plunge over 8% to lowest level since August
Oil prices fell more than 8% at Wednesday’s close, with Brent and US crude futures hitting their lowest levels since August.
Key Takeaways
AIOil prices dropped by more than 8% at the close on Wednesday, reaching their lowest level since August.
Brent crude futures fell by $8.98, or 8.7%, to $94.62 per barrel.
US West Texas Intermediate crude futures declined by $7.97, or 8.3%, to $88.12.
Earlier, the US Energy Information Administration reported that crude oil, gasoline, and distillate inventories in the United States fell last week.