Oil prices fall to lowest level of the year

Posted on AllSides December 8th, 2022
From The Left
FactSet; Chart: Axios Visuals

Crude oil futures fell to their lowest level of the year Wednesday amid growing concern about the state of the global economy.

Why it matters: Crude oil prices are a tell on the global economy, which looks like it could be in trouble.

Driving the news: The sell-off came despite ostensibly good news for the economy, as China announced plans to scrap the harsh regime of testing, quarantine and lockdowns that have pushed the nation's growth rate well below goals set by officials.

Growth for the first nine months of 2022 was...

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