Business

Oil Set for Worst Losing Run Since 2020 on Slowdown Concerns

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West Texas Intermediate, which traded above $92 a barrel after tumbling on Tuesday, has shed more than 6% in August, hitting the lowest since January mid-month. In the US, the Federal Reserve has been raising rates aggressively to quell inflation, while Europe is gripped by an energy crisis that may herald a recession. In Asia, growth in China, the top oil importer, has slowed.



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