2 months ago
Oil Prices Flat on Higher OPEC Supply, Persistent Trade Uncertainty
Oil prices were broadly flat, with Brent crude and WTI around $69.26 a barrel and $66.26 a barrel, respectively, despite the dollar index sliding to near four-month lows.
Sentiment is persistently negative in the oil market, with Brent falling nearly 2.5% on Wednesday's session, ING analysts said in a note.
Increasing OPEC supply—with prospects for further supply hikes—combined with constant uncertainty around tariffs and trade have pushed the market lower, ING said.
