Oil Prices Fall to 7-Week Low as Market Pressures Mount

Oil prices have dipped to their lowest levels in nearly two months, with U.S. West Texas Intermediate (WTI) and Brent crude being particularly impacted. These declines reflect a complex interplay of escalating supply levels, subdued demand, and challenging economic indicators, all of which signal a potentially extended bearish phase in the oil markets. Supply Factors The unexpected rise in U.S. crude inventories, as reported by the American Petroleum Institute (API), has notably contributed to the downward pressure on oil prices. A significant…