Reported about 9 hours ago
Crude oil prices are set to experience their steepest monthly decline since 2021, with West Texas Intermediate falling over 16% and Brent crude nearly 17% this month. This drop is driven by concerns over a potential global economic downturn and lower demand linked to tariffs arising from the US-China trade conflict. Reports indicate that Saudi Arabia may be open to maintaining lower prices for an extended period while OPEC+ considers increasing oil supply in June, adding to market uncertainty.
Source: YAHOO