Reported about 13 hours ago
Oil prices have continued to decline this week, with Brent crude falling below $64 a barrel, amid concerns over a potential trade war as US President Donald Trump proposed a 50% tariff on the EU. This drop in prices is compounded by the possibility of OPEC+ increasing oil supply quotas, alongside rising US commercial oil stockpiles. Market sentiment has turned bearish due to these factors, and a virtual meeting is scheduled for June 1 to discuss future supply levels.
Source: YAHOO