Oil Prices Fall Towards $60 As Supply Fears Mount

Oil slips on oversupply concerns, stronger dollar

NEW YORK: Oil prices fell over one per cent on Tuesday as OPEC+'s decision to pause output hikes in the first quarter next year, along with weak manufacturing data and a stronger dollar, weighed on the market.

Oil Prices Fall Towards $60 As Supply Fears Mount

Oil prices fell on Tuesday morning as concerns about oversupply increased after OPEC’s decision to pause supply hikes and as a stronger U.S. dollar eased buying from holders of other currencies.    As of 8:44 a.m. ET on Tuesday, the U.S. benchmark price, WTI Crude, was flirting with the sub-$60 a barrel price it reached two weeks ago after the Trump Administration slapped sanctions on Russia’s biggest oil firms, Rosneft and Lukoil. The U.S. benc…

Oil slips on oversupply concerns and stronger dollar

(Investing.com)– Oil prices fell more than 1% on Tuesday as the OPEC+ decision to pause output hikes in the first quarter of next year, along with weak manufacturing data and a stronger dollar, weighed on the market. Brent crude futures fell 81 cents, or 1.25%, to $64.08 a barrel by 1310 GMT. U.S. West Texas Intermediate crude was down 84 cents, or 1.38%, at $60.21. “The succession of poor manufacturing PMIs from Asia and then the U.S. ISM is a …

Oil prices lower as 2026 oversupply fears overshadow OPEC+ production decisions - London Business News

WTI crude oil futures retreated below USD 61 per barrel on Tuesday, as persistent oversupply fears overshadowed recent OPEC+ policy decisions. Forecasts of a significant global surplus by 2026, potentially… The post Oil prices lower as 2026 oversupply fears overshadow OPEC+ production decisions appeared first on London Business News

WTI Oil: Bears Regain Control on Demand Concerns, Reaction at Key $60 Support in Focus

WTI oil price remains in red for the second consecutive, weighed by fresh demand concerns following weak manufacturing numbers and OPEC+ decision to pause oil production hikes in early 2026, with strong dollar also contributing to near-term performance. The price fell nearly 1.5% in early Tuesday trading and attacks again significant $60 support (psychological / […] The post WTI Oil: Bears Regain Control on Demand Concerns, Reaction at Key $60 S…