Reported 20 days ago
Oil prices fell to a three-week low as fears of oversupply triggered technical selling in the market. West Texas Intermediate dropped by 1.8% to around $67 per barrel, while Brent crude hovered near $71. Despite OPEC+ planning a slow return of supplies, the market remains under pressure from a potential surplus in 2025, fueled by weakening Chinese demand and increasing supply from the Americas. Analysts expect further selling activity as trend signals deteriorate.
Source: YAHOO