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Commodities

Oil Price Surge Weighs Down US Stocks

Guavy AI Editorial Team
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Oil
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US stocks closed lower on Monday as the price of oil rose significantly. The Dow Jones Industrial Average fell by 373 points, or 0.7%, to 53,186. The Nasdaq Composite Index declined 31 points, or 0.12%, to 26,370. The S&P 500 Index dropped approximately 25 points, or 0.33%, to 7,686.

The price of West Texas Intermediate (WTI) crude oil rose by more than $2 to $85.93 per barrel. This increase in oil prices likely contributed to the decline in US stock indices.

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