WTI⁤ Oil Prices‍ Plummet Amid US⁤ Economic Concerns

West Texas Intermediate (WTI) crude oil⁤ prices ⁤have ‌dropped nearly 2%, slipping above $70 per barrel, ​as concerns ‍about the US economy’s impact on oil demand continue to grow.

As ⁢of⁤ 11:58 pm Thai time, the WTI⁤ crude oil ‍price‌ for October delivery fell by $1.28, or 1.80%, to $69.69 per barrel.

US Economic Indicators‌ Weaken

S&P Global’s Purchasing⁣ Managers’‍ Index⁣ (PMI), which combines the manufacturing and ⁢basic⁣ services sectors of the United States, fell to 54.4 ⁣in September, the ⁤lowest⁣ level in two months, from 54.6 in August.

Employment growth has ‌slowed, and business confidence has waned amid uncertainty surrounding the US presidential‌ election⁣ in November.

Middle ⁣East⁤ Tensions Escalate

Investors⁢ remain cautious, keeping a close eye on the situation in the Middle ‌East, where tensions between Israel and Lebanon continue to escalate.

Israeli Defense Minister Yoav Gallant stated⁤ that Israel would continue to attack targets in Lebanon until it achieves ‍its⁤ goal of ensuring the safe return of Israelis ⁤to their homes in the north.

The Lebanese Ministry of Health reported⁣ a rising death toll, with 274 fatalities and 1,024 injuries,​ following Israel’s major‍ warplane attack on southern and eastern Lebanon.

The Israeli Army ⁣launched ⁢a massive attack on 300 targets in Lebanon, the largest in almost ⁣a year,⁢ targeting Hezbollah ⁢strongholds.

Rear Admiral Daniel Hagari, a ‍spokesman for‍ the Israel Defense Forces (IDF), confirmed that the targets included civilian buildings used by Hezbollah to store rockets, missiles, launchers, drones, and military equipment.

By Kongkiat Kawirakiti