Reported 29 days ago
Brent crude oil prices have fallen below $70 a barrel for the first time in over two years, driven down by high supply levels, concerns over demand, and aggressive speculative selling. Both Brent and West Texas Intermediate crude saw significant declines, attributed to sobering economic data from the US and China, along with rising oil output from outside OPEC. The market anticipates a possible surplus in the future despite OPEC's adjustments to production plans.
Source: YAHOO