Oil prices slightly declined due to supply concerns.

Oil prices in Asia fell slightly in early trading, influenced by supply concerns. The nearby West Texas Intermediate crude oil futures fell 0.3% to $60.87 per barrel, while nearby Brent crude oil futures fell 0.3% to $64.71 per barrel. Two members of the cross-asset research team at Societe Generale Bank in France stated that, according to data from the International Energy Agency, with the continuous increase in supply from OPEC+, the United States, Canada, and Guyana, the market will have to deal with a significant oversupply of 4 million barrels per day by 2026.