Oil continues falling, down over 1%
Crude oil prices kept their losing streak on Wednesday after plunging 4% on Tuesday, reaching its lowest point since May 4. Uncertainties persisted over the United States debt ceiling deal, with a vote in the House of Representatives likely to happen today. Meanwhile, China's manufacturing sector remained in contraction territory in May, indicating a slow demand recovery.
West Texas Intermediate (WTI) for settlements in July dropped 1.60% and went for $68.21 per barrel at 5:59 am ET. Brent for the same month's deliveries sank 1.73%, selling for $72.17 per barrel at the same time.