Reported 15 days ago
Oil prices have increased following five-month lows as investors consider escalating trade tensions between the U.S. and China, coupled with the International Energy Agency's forecast of a potential supply surplus in 2026. Brent crude rose 0.85% to $62.92 a barrel, while West Texas Intermediate climbed 1.06% to $59.32. The ongoing trade dispute, which has seen both nations impose extra fees on cargo, threatens global oil transportation routes amid concerns over oversupply as output increases and demand remains weak.
Source: YAHOO