
Oil prices slide below $60 as demand concerns weigh on markets
WTI crude fell nearly 3% to $59.36 per barrel on Wednesday, breaking below the key $60 level as easing geopolitical tensions and oversupply fears pressure prices.

WTI crude fell nearly 3% to $59.36 per barrel on Wednesday, breaking below the key $60 level as easing geopolitical tensions and oversupply fears pressure prices.

Canada's Trans Mountain expansion has reshaped global crude flows, with China now receiving 32% of pipeline exports and total shipments to British Columbia up more than sixfold.

The United States will add nearly 14 Bcf/d of new liquefaction capacity between 2025 and 2029, cementing its position as the world largest LNG exporter.

Crude benchmarks gain with Brent above $64 and WTI near $60 as the Trump administration signals stricter enforcement of Iran sanctions.

President Trump's goal of $50 per barrel oil could cripple US shale production, as Permian Basin breakeven costs hover between $62 and $64 according to Dallas Fed data.

Brent crude holds above $62 per barrel as nationwide unrest in Iran enters its third week, with workers at South Pars joining strikes amid a violent crackdown.

WTI crude rebounds to $58.70 per barrel after a larger-than-expected 3.8 million barrel drop in US stockpiles counters oversupply fears.

President Trump says Venezuela will turn over 30 to 50 million barrels of crude oil to the US, worth up to $2.8 billion, following the capture of President Maduro.

American oil and gas companies are shifting investment toward natural gas as LNG export capacity expands, with exports set to rise nearly 40% from 2024 levels amid growing global demand.