Oil prices fall in the midst of the expectations of surplus in supply

Oil prices have fallen slightly, while customers monitored the latest US in the Customs War, amid a growing consensus that the market will see a surplus in the supply. In June, Brent -Ruola dropped 0.3% to settle at $ 64.67, and the “Western Texas” crude contracts also fell by 0.3%, ending a series of profits that lasted two sessions. These declines come amid the European Union and the United States some progress in trade talks this week, at a time when the administration of US President Donald Trump indicated that most of the customs laid on the European block will remain. The International Energy Agency has its expectations to claim oil by about a third this year and expect the excess of the offer to continue until 2026. The fees and economic slowdown crisis lead to more pessimistic expectations that oil prices have fallen by about 10 dollars this month, after the trade war filled by US President Donald Trump could harm the largest consumers of the world. Fear of economic growth prospects and energy agencies spurred their expectations for oil prices, while analysts reduced their prices, at a time when the possibility of showing supply, which was merged with the decision of the OPEC+coalition to reproduce faster than expected. The organization of oil exporting countries (OPEC) has already reduced its expectations for consumption over the next two years by about 100,000 barrels per day, to a larger reduced division for the US energy information last week. Energy Aseckets reduced its annual oil expectations for $ 10 a barrel, pointing out that the global recession has almost become sure. “The surplus of the oil market in 2025 is increasing. The mix of poor demand and acceleration of production is increasing from OPEC+refers to a larger surplus in 2025 than we expected a few months ago.”