Oil edged lower in Asian trade but prices remain elevated. Crude benchmarks slipped modestly as traders weighed geopolitical tensions against demand forecasts. Brent crude fell 1.2% to $87.45 per barrel, while West Texas Intermediate dropped 1.1% to $82.10. Analysts caution that supply disruptions in the Middle East and OPEC+ production cuts continue to underpin prices. Despite the dip, short-term forecasts suggest sustained highs due to tight global inventories.
Central bank policies and economic data from major economies also influence market sentiment. Traders remain cautious, anticipating volatility as seasonal demand shifts.
Source: Wall Street Journal Markets · Summarized by HeadlinesBriefing