Brent Prices Retreat below $70 as OPEC+ Mulls Another Output Hike

Brent Crude prices failed to hold onto the $70 per barrel handle for more than a day, dipping by 2% early on Monday as the market focused on imminent supply increases. As of 7:28 a.m. EDT on Monday, Brent Crude prices were down by 1.74% at $68.87, after hitting $70 per barrel on Friday, the highest level in nearly two months. The U.S. benchmark, WTI Crude, slipped below $65 per barrel and traded down by 2.02% at $64.36. More supply to the market, coming from Iraq’s semi-autonomous region of Kurdistan, a ...