Oil prices have tumbled amid concerns that the slowing US economy will weaken demand.
US sweet, light crude fell $2.23 to settle at $123.26 a barrel - more than $20 off their peak earlier in July, when prices reached a record $147.27.
Brent crude in London also fell, dropping $1.92 to $124.52.
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Oil Prices Dropped to 7 Week Low
Oil prices have tumbled amid concerns that the slowing US economy will weaken demand