Oil prices plunged by 4% at the start of August as the market digested weak economic figures from China, the world’s largest crude oil importer. As of 10:12 a.m. ET on Monday, WTI Crude prices were down by 4.49% at $94.22. WTI Crude started August on the decline, following the first back-to-back monthly losses in June and July since the end of 2020. Brent Crude, the international benchmark, was down to $100—after finishing July at the $103 a barrel handle, following a brief intra-day spike to $110 on Friday. Brent Crude traded down…
