Oil prices fell to around $62.89 ahead of the European session on Tuesday, pressured by concerns about oversupply and a weak demand outlook. Optimism over easing US-China trade tensions temporarily halted the decline, but signals of increased production from OPEC+ and slowing global economic growth kept the market cautious. Investors are now awaiting fresh direction from US economic data and Fed policy to determine the next course.
Brent oil price at the time of writing was $62.88
Disclaimer:
This article is analytical in nature and is not a definitive reference. Consider fundamental and technical developments in trading before making investment decisions.
Source: Newsmaker.id
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