Reported 11 months ago
Oil prices declined as oversupply concerns overshadowed potential geopolitical risks from the ongoing conflict in the Middle East. West Texas Intermediate crude settled near $70 per barrel, reflecting a market that is amply supplied. Expectations of reduced demand, particularly from China, combined with a more stable outlook for negotiations between Israel and Hamas, have left traders cautious. As the situation develops, investors are also looking ahead to the upcoming US elections.
Source: YAHOO