Oil prices extend losses for a fourth session as markets price in higher Middle East supply risks.
West Texas Intermediate crude fell to $69.20 per barrel, extending its decline for a fourth straight day amid rising expectations of increased oil supply from the Middle East. The drop reflects growing market concerns over potential oversupply in the near term.
Prices have retreated from recent highs as geopolitical tensions ease and production forecasts rise. Prior sessions saw WTI trading above $70, but supply-side pressures have weighed on sentiment. No immediate market reaction was reported.
The trend underscores shifting investor focus toward supply dynamics rather than demand-driven factors.