Reported 4 days ago
Oil prices fell as expectations of increased supplies from Iraq and Russia emerged, coinciding with U.S. President Donald Trump's efforts to conclude the war in Ukraine. Brent crude approached $74 per barrel, while West Texas Intermediate hovered near $70, influenced by the potential resumption of oil exports from Iraq's Kurdistan region and discussions between Trump and Russian President Vladimir Putin. Market dynamics showed signs of weakness, particularly with a bearish shift in WTI contracts and reduced speculative betting on price increases.
Source: YAHOO