Reported about 18 hours ago
Oil prices are on track for a monthly loss as traders express worries about a potential oversupply and geopolitical issues, particularly the impact of the ongoing war in Ukraine. West Texas Intermediate crude fell approximately 1% to near $64 per barrel, while Brent oil approached $68. The market's decline reflects fears of increasing stockpiles due to supply outpacing demand in the upcoming quarters, alongside a sharp decrease in US consumer sentiment and escalating tensions involving Russia.
Source: YAHOO