Reported about 3 hours ago
Oil prices have fallen as Scott Bessent, the nominee for Treasury Secretary, advocates for greater US oil production while Israel nears a cease-fire agreement with Hezbollah. Brent crude slipped below $75 a barrel, influenced by ongoing geopolitical tensions, especially in Ukraine and Iran. As US production is called to increase by an additional 3 million barrels a day, concerns grow over a potential oversupply in the market. Meanwhile, analysts expect OPEC to postpone a planned output increase at their upcoming meeting.
Source: YAHOO