Commodities
Middle East Uncertainty Sparks Oil Price Crash
Oil prices plummeted over 4% on Monday, according to Euronews, as Brent crude oil for September delivery dropped by $4.66 to settle at $92.27 per barrel.
Meanwhile, US crude, known as WTI, fell by 5.02% to $84.83 per barrel. This sharp decline reverses the gains made in July, when Brent crude briefly reached its highest level since May at $102 a barrel.
The surge in oil prices this month was driven by increased fighting in the Middle East and concerns that a return to full-scale war would disrupt global oil flows.