Crude oil futures struggle below key averages as Russian flows resume and China builds inventories, reinforcing a bearish oil outlook driven by surplus concerns.
Oil declined in the early Asian session after oil tanker activity resumed at Russia's Novorossiysk port.
Oil prices are expected to decline through 2026, Goldman Sachs said on Monday, citing a production surge that will keep the market in a large surplus of around 2 million barrels per day.
Global energy outlooks from OPEC, IEA, and EIA reveal a clear shift toward oil oversupply through 2025-2026, driven by strong non-OPEC production and slower demand concentrated in Asia. This analysis highlights key areas of agreement across all three agencies and what it means for crude pricing, market power, and future
Oil fell in the early Asian trade on a possible technical correction after Friday's notable price gains in both WTI and Brent.
Crude oil nears key 52-week moving average as traders weigh short-term demand optimism against persistent global supply and inventory concerns.
A buildup of U.S. military forces in the Caribbean Sea are raising concerns about a potential strike on Venezuela, which is home to the world's largest oil reserves.
Oil rose in the morning Asian session amid possible position adjustments.
Oil slips below $59 as rising U.S. inventories and OPEC's surplus outlook pressure prices; traders eye $60 support amid bearish sentiment.
Oil prices dropped on shifting OPEC forecasts, while natural gas shows bullish momentum, and the U.S. dollar index remains in consolidation with key levels in focus.
Oil extended overnight price declines in the early Asian session amid many headwinds.
Oil prices plunged in early Wednesday trading, erasing previous gains as both WTI and Brent crude faced renewed selling pressure. Persistent oversupply from major producers continues to weigh on sentiment, keeping rallies limited and short-lived.