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2023-05-11 19:33:31
Oil prices fell nearly 2 percent to a one-week low on Thursday, as a political standoff over the US debt ceiling stoked fears of a recession in the world’s largest oil consumer.
Prices were also affected by the increase in US jobless claims and weak Chinese economic data.
Brent crude futures fell $1.43, or 1.9 percent, to settle at $74.98 a barrel, while West Texas Intermediate crude fell $1.69, or 2.3 percent, to $70.87 at settlement.
This is the lowest closing level for the two benchmarks since May 4th.
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