Oil prices went down after China’s Finance Ministry meeting, where they didn’t offer new ways to encourage people to buy more, even though China is the biggest buyer in the world. On Monday, Brent crude oil dropped by 2.7%, and West Texas Intermediate also went down.
This drop happened while tensions in the Middle East are getting worse. This conflict worries people about the area’s safety.
The leader of Hezbollah was killed in an Israeli bombing in Beirut, making the tensions even worse. This attack has people scared that there might be more fighting and things could get worse.
China’s economy is not doing very well, which also worries people. The lack of new ways to encourage spending from China’s Finance Ministry meeting has made people think that people will need less oil.
