Gas prices could drop to $2.99 ​​next week

Crude oil prices fell on August 4 to their lowest prices since before Ukraine was invaded by Russia, as the futures market indicated a possible recession which may reduce consumer demand.

U.S. crude benchmark WTI fell below $90 a barrel for the first time since the invasion began in February to $88, while Brent crude fell to $95 a barrel as RBOB, the gasoline futures market, fell to $0.05.

The outlook for crude oil prices is difficult to predict, although the spread between WTI and Brent could widen further until some resolution to the Russia-Ukraine conflict is reached, said Bernard Weinstein, a retired professor of economics at Southern Methodist University in Dallas. The street.

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