Oil Slumps To Five-Month Low On Market Fears Of Impending Oversupply
Forbes·2025-10-14 16:55
A floating production storage and offloading or "FPSO" vessel around 250km off the coast of Angola in the Atlantic Ocean. (Photo: Rodger Bosch)AFP via Getty ImagesOil prices slumped to their lowest in five months on Tuesday on market fears of oversupply in the run up to end of the year and first quarter of 2026. At 11:02am EDT on Tuesday, global proxy benchmark Brent’s front-month futures contract was down 2.08% or $1.32 barely holding the price floor at $62 per barrel, and having dropped by as much 3% in E ...