Lates News

Due to data from the International Energy Agency and OPEC+ showing a worsening global supply glut, crude oil prices are set to fall for the third consecutive week, with West Texas Intermediate falling below $59 and Brent crude nearing $63. Sanctions on Russian oil companies Rosneft and Lukoil provide limited support, but the broader market continues to be weighed down by record supply glut projections and weak demand growth.