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Brent Oil Plummets Near Yearly Lows as AIE Forecasts Record Oil Surplus by 2026
Brent Oil prices fell 2.2% to $61.9 per barrel amid forecasts from the International Energy Agency of a record oil surplus by 2026, influenced by ongoing U.S.-China trade tensions.
- On Tuesday, Brent Oil dropped 2.2%, trading at $61.9 per barrel, nearing yearly lows last seen in May following Donald Trumps tariff announcements.
- The International Energy Agencys forecast predicts a record oil surplus by 2026, impacting market confidence and driving down petroleum prices amid escalating trade tensions.
- Ongoing trade risks between the U.S. and China have intensified selling in the energy market, significantly affecting oil prices, while OPECs role in global export dynamics remains under scrutiny.
Por Qué Es Relevante
The decline in Brent Oil prices reflects broader geopolitical tensions and economic uncertainty, highlighting the fragile nature of global oil markets and the potential for significant shifts in energy supply and pricing strategies by countries like Russia and members of OPEC.