🛢️ Oil Market Update
Oil prices extended their slide for the third straight month, hit by a stronger U.S. dollar and rising global supply.
As of the latest data:
Brent crude around $64.67/barrel
West Texas Intermediate (WTI) near $60.22/barrel
Key points:
An oversupplied market is looming, with global inventories climbing despite demand concerns.
A strong dollar is making oil costlier in other currencies, which adds downward pressure.
Takeaway: The oil market looks cautious. If demand doesn’t pick up and supply keeps growing, prices may stay under pressure.
