Oil prices decline on oversupply fears despite trade-deal hopes
Crude oil prices slid Tuesday amid concerns of oversupply and weak demand outlook, even as trade-tension relief supported global markets. Brent futures dipped to about US$60.87 per barrel and U.S. West Texas Intermediate futures fell to roughly US$57.45. A recent drone strike on Russia’s Novokuibyshevsk refinery and output cuts in Kazakhstan did little to offset warnings of a potential surplus of up to 4 million barrels per day by 2026 per the International Energy Agency.
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22h ago
Oil prices decline on oversupply fears despite trade-deal hopes
Crude oil prices slid Tuesday amid concerns of oversupply and weak demand outlook, even as trade-tension relief supported global markets. Brent futures dipped to about US$60.87 per barrel and U.S. West Texas Intermediate futures fell to roughly US$57.45. A recent drone strike on Russia’s Novokuibyshevsk refinery and output cuts in Kazakhstan did little to offset warnings of a potential surplus of up to 4 million barrels per day by 2026 per the International Energy Agency.
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Oil prices decline on oversupply fears despite trade-deal hopes
about 23 hours ago
1 min read
75 words
Oil prices fall as oversupply fears weigh despite calmer trade tensions.
Crude oil prices slid Tuesday amid concerns of oversupply and weak demand outlook, even as trade-tension relief supported global markets. Brent futures dipped to about US$60.87 per barrel and U.S. West Texas Intermediate futures fell to roughly US$57.45. A recent drone strike on Russia’s Novokuibyshevsk refinery and output cuts in Kazakhstan did little to offset warnings of a potential surplus of up to 4 million barrels per day by 2026 per the International Energy Agency.
Crude oil prices slid Tuesday amid concerns of oversupply and weak demand outlook, even as trade-tension relief supported global markets. Brent futures dipped to about US$60.87 per barrel and U.S. West Texas Intermediate futures fell to roughly US$57.45. A recent drone strike on Russia’s Novokuibyshevsk refinery and output cuts in Kazakhstan did little to offset warnings of a potential surplus of up to 4 million barrels per day by 2026 per the International Energy Agency.