Reported about 2 months ago
Oil prices are on track for a weekly decline, following a low close not seen since January due to concerns over demand, decreasing product prices, and negotiations for a cease-fire in Gaza. Brent crude is down approximately 3% this week, with economic indicators showing manufacturing contraction in the US and decreased diesel futures in Europe. OPEC+ plans to ease supply cuts face challenges as demand weakens, particularly in China and the US, leading analysts to predict a shift towards surplus by 2025.
Source: YAHOO