Reported about 21 hours ago
Oil prices have unexpectedly dropped to a three-year low, prompting traders to speculate about further declines due to various bearish factors. OPEC's decision to increase supplies, coupled with ongoing trade tensions and declining demand from China, has shifted market sentiment. Hedge funds are reducing long positions in oil, and forecasts from major banks suggest prices may fall further. However, geopolitical risks and potential disruptions in supply due to U.S. policies on Iran and Venezuela present a complex scenario for the oil market.
Source: YAHOO