Oil prices hit 4-month low

VTV.vn - At the end of the session on October 1, Brent oil price in the London market decreased by 68 US cents (1%) to 65.35 USD/barrel, while US WTI crude oil decreased by 59 US cents (0.9%) to 61.78 USD/barrel.

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World oil prices continued to fall for the third consecutive session and hit a 16-week low on October 1, amid concerns about the global economic outlook due to the US government shutdown. In addition, oil supply is expected to increase when OPEC+ may increase production from next November.

At the end of the session, Brent crude oil prices in London market decreased by 68 US cents (1%) to 65.35 USD/barrel, while US WTI crude oil decreased by 59 US cents (0.9%) to 61.78 USD/barrel. This is the lowest closing level since early June 2025 for Brent oil and late May 2025 for WTI oil.

OPEC+ is considering increasing production by up to 500,000 barrels a day in November, much higher than the increase in October, sources said, although the group said no official decision had been made. Meanwhile, US crude inventories rose by 1.8 million barrels last week, more than the forecast of 1 million barrels, indicating weak demand.

Analysts say oil prices are under pressure from many factors: rising US oil reserves, weakening demand in the US and Asia, and concerns about the global economy due to the US government shutdown. In addition, disruptions in supply from Russia have also caused further market volatility.

Source: https://vtv.vn/gia-dau-cham-day-4-thang-100251002085023813.htm