WTI Drops Below $80.00 Amid US Credit Downgrade, Stockpiles Fall
August 03, 2023 at 00:25 AM EDT
WTI crude oil benchmark is down 3.24% after hitting a daily high of $82.39. Fitch’s revision of US Government debt from AAA to AA+ impacts market sentiment, adding pressure on oil and other US Dollar-denominated commodities.