Why Oil Prices Fell $10 in a Month

Over the past month, the price of West Texas Intermediate (WTI) has fallen from about $85.00 a barrel to below $75.00 a barrel. Concerns about weaker demand from China have negatively impacted oil prices for a while, and now fears of a U.S. recession have helped further drive prices down. The most recent driver is the negative sentiment pervading the stock market, which has extended its reach into commodities. This heightened volatility has been driven by traders reacting to the fear of a potential U.S. recession, spurred by weaker-than-expected…