Oil down as market eyes excess supply, US-China trade tensions
Oil prices fell on Wednesday, extending losses from the previous session, as investors weighed the International Energy Agency's warning of a supply surplus in 2026 and U.S.-China trade tensions that could curtail demand.
Brent crude futures fell 9 cents, or 0.14%, to $62.30 a barrel by 0640 GMT, while U.S. West Texas Intermediate futures eased 3 cents, or 0.05%, to $58.67 a barrel.
Both contracts closed at five-month lows in the previous trading session.
Reuters
Oil prices fell on Wednesday, extending losses from the previous session, as investors weighed the International Energy Agency's warning of a supply surplus in 2026 and U.S.-China trade tensions that could curtail demand.
Brent crude futures fell 9 cents, or 0.14%, to $62.30 a barrel by 0640 GMT, while U.S. West Texas Intermediate futures eased 3 cents, or 0.05%, to $58.67 a barrel.
Both contracts closed at five-month lows in the previous trading session.
Reuters
Oil prices fell on Wednesday, extending losses from the previous session, as investors weighed the International Energy Agency's warning of a supply surplus in 2026 and U.S.-China trade tensions that could curtail demand.
Brent crude futures fell 9 cents, or 0.14%, to $62.30 a barrel by 0640 GMT, while U.S. West Texas Intermediate futures eased 3 cents, or 0.05%, to $58.67 a barrel.
Both contracts closed at five-month lows in the previous trading session.
Reuters
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Oil down as market eyes excess supply, US-China trade tensions
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