Expectations for a trade deal between the US and EU are weakening, causing worries about a potential slowdown in the world’s biggest oil market. International crude oil prices fell on July 22, marking the third consecutive trading day of declines.

West Texas Intermediate (WTI) crude for September delivery decreased by US$0.87 (1.3%), reaching US$65.08 per barrel on the New York Mercantile Exchange. Brent crude for September delivery fell by US$0.62 (0.9%), settling at US$68.59 per barrel.