Oil prices fall to four-month low as inflation slows

Posted on AllSides November 17th, 2023
From The Left

U.S. oil prices dropped nearly 5% Thursday, hitting four-month lows.

Why it matters: The slide in crude oil is yet another indication that the balance of power has swung toward sharply slowing inflation in the U.S. economy.

That could be good news for drivers, suggesting that gasoline prices — already down about 11% to $3.34 a gallon from a year ago — could fall a bit more ahead of Turkey Day-related trekking.

State of play: The slide started earlier this week after fresh data showed a much higher-than-expected rise in stockpiles of crude oil in the U.S., along with growing...

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