Global crude oil prices fell as investors reacted to fears of renewed U.S. tariffs and increased oil supply from OPEC+ nations. Brent crude dropped by 58 cents to $68.53 a barrel, while WTI declined by 57 cents to $66.88. The 90-day pause on U.S. tariffs ends July 9, with no final trade deals yet with key partners like the EU and Japan. Rising U.S. crude inventories also fueled demand concerns, contributing to the price decline.
Global crude oil prices fell due to investor concerns over demand amid uncertainty surrounding the possible reinstatement of U.S. tariffs. This decline in prices was also influenced by news of increased supply from OPEC+ member countries, according to a Reuters report.
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