Reported 1 day ago
Oil prices have experienced their first decline of the year, falling near $76 per barrel for Brent and around $73 for West Texas Intermediate. This drop follows signs that the recent surge in prices may have been excessive, as technical indicators suggest overbought conditions. Analysts are cautious about future price movements, citing concerns over a potential supply glut and weak demand from China, along with warnings that new supply from non-OPEC countries could outpace global consumption growth.
Source: YAHOO