Oil Prices Decline on Recession Fears and Increased Supply
Oil prices have dropped for the second consecutive day, influenced by concerns over a potential US recession and the impact of tariffs on global growth. Additional factors include increased oil production from OPEC+ nations:
- Brent futures decreased to $69.22 per barrel.
- U.S. West Texas Intermediate crude fell to $65.90 per barrel.
These developments reflect apprehensions about weakened demand and potential market imbalances.