Crude Oil Prices Reach Four-Month Lows on Supply and Macroeconomic Factors

Global crude oil prices, including Brent and WTI, have fallen to their lowest levels in four months, trading in the mid-to-low $70s. This decline is attributed to modest increases in OPEC+ output and robust non-OPEC supply. Additionally, broader macroeconomic anxieties and uncertainty regarding monetary policy are contributing to the fading demand momentum.