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Oil Prices Head for Lowest Close Since August - The Wall Street Journal

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Oil Prices Head for Lowest Close Since August

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Oil prices are on track for their lowest close since late summer, in a sign that energy demand has started to wane.

Brent crude futures fell almost 2% Tuesday to just under $84 a barrel. U.S. benchmark West Texas Intermediate traded below $80 a barrel for the first time since August.

Prices have shed all the gains they made after the outbreak of war in the Middle East in October. Falling oil prices have fed through at the pump, where average regular gas goes for $3.40 a gallon, down from $3.72 a month ago, according to AAA.

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