Oil Holds Biggest Decline in Three Weeks With Glut in Focus


“The surplus in the oil market is set to grow in 2026” with supply exceeding demand by more than 2 million barrels a day, said Warren Patterson, head of commodity strategy for ING Groep NV. “We forecast that Brent will average $57 a barrel over the year, with the key assumption being that Russian oil flows continue unabated despite US sanctions.”



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