Oil Prices Continue To Fall As China Renews Covid Lockdowns ...Middle East

Oil prices fell by 3% early on Wednesday, extending Tuesday’s 5.5% plunge, after China placed millions of residents on Covid lockdowns and Chinese data showed a weakening economic activity.  As of 7:40 a.m. ET on Wednesday, WTI Crude had dipped below the $90 per barrel mark and traded at $89.06, down by 2.78% on the day. Brent Crude, the international benchmark, had slipped by 3.33% at $95.92.  Oil prices are now headed for a third consecutive month of losses in August and the longest monthly losing streak since 2020.  Oil…

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