Oil prices rose about 1% on Monday (September 1st) as a weaker dollar and Russia-Ukraine tensions threatened supply, with Brent at $67.96 and WTI at $64.66. Despite the gains, the market remains clouded by the OPEC+ supply surplus and weakening global demand.
Looking ahead, analysts estimate a supply glut of up to 1.6 million barrels per day by the fourth quarter of 2025. Investors are now focused on the OPEC+ meeting and US employment data, which could influence interest rate policy and commodity demand.
Oil prices at the time of writing were at $67/96 oz.
DISCLAIMER
Note: This article is analytical only and is not a definitive reference. Consider fundamental and technical developments in trading before making investment decisions. (ayu)
Source: Newsmaker.id
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