Reported 16 days ago
Oil prices slipped on Wednesday as investors considered the International Energy Agency's forecast of a supply surplus in 2026 and ongoing US-China trade tensions that could dampen demand. Brent crude futures fell to $62.24 a barrel, while U.S. West Texas Intermediate dropped to $58.64. The market faces excess supply as OPEC+ increases output, while geopolitical risks and trade disputes have intensified costs and disrupted shipping flows, prompting analysts to focus on inventory changes for indications of demand.
Source: YAHOO