Reported about 1 month ago
Oil prices have stabilized after a two-day drop, as declining stock markets balanced out reductions in US crude inventories and disruptions in Libya's oil supply. Brent crude traded under $79 per barrel, while West Texas Intermediate hovered around $75. Despite expectations of lower interest rates and OPEC+ supply discipline supporting oil prices this year, concerns arise over a potential supply boost from OPEC+ starting in October amidst subdued demand from China.
Source: YAHOO