Oil prices extend losses for a third day as market concerns over global supply constraints diminish amid broader energy sector declines.
West Texas Intermediate crude fell to $67.80 per barrel during Asian trading on Thursday, marking its third consecutive daily decline. The drop reflects easing supply concerns that had previously supported prices, contributing to a broader downturn in global energy markets.
Earlier in the week, WTI traded above $68.00, but sentiment shifted as anxieties over tight supply conditions waned. The decline aligns with a broader pullback in crude benchmarks, though no specific catalyst for the shift was identified in recent sessions.
Market participants are monitoring the trend for potential further weakness, though no immediate reaction in related assets was reported.