Reported about 13 hours ago
Oil prices fell in early Asian trading as fears of oversupply and escalating U.S.-China trade tensions weighed on the market. Brent crude dropped to $61.11 and WTI to $57.34, reflecting a third consecutive weekly decline. The International Energy Agency cautioned of a potential supply surplus in 2026, while OPEC+ is reversing output cuts. Heightened geopolitical tensions and record U.S. oil output also contributed to the price drop, with analysts warning that a prolonged U.S.–China decoupling could significantly dampen global oil demand.
Source: YAHOO