Commodities
US Oil Futures Drop Below $55 a Barrel for First Time Since 2021
A pumpjack operates above an oil well in the Bakken Formation outside Williston, North Dakota.
Photographer: Daniel Acker/BloombergWest Texas Intermediate oil fell below $55 a barrel for the first time since February 2021, the latest sign that crude supplies are outpacing demand as the market braces for a large surplus.
Earlier in the session, global benchmark Brent fell below $60 a barrel for the first time since May.