U.S. benchmark crude oil, West Texas Intermediate (WTI) shed over 2% on Monday, shortly after Goldman Sachs said US crude would account for 60% of non-OPEC output growth this year. At 1:13 p.m. ET on Monday, WTI was trading down 2.13% at $75.52, while Brent crude was trading down 2.02% at $79.49, moving away from its $80 marker.
Oil prices are likely responding to the conflict in the Middle East, with Israel on Monday saying it would seek to avoid a full-blown regional war in the wake of a deadly Hezbollah strike on the Golan Heights…WTI Sheds Over 2% As Goldman Sachs Heralds U.S. Crude Output Growth
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