Oil prices decline despite Fed rate cuts and tanker seizures
after close1 source ↓written by the desknot a recommendation
- trading just above
- $61 per barrel
- and aggressive tanker
- 3.50-3.75%
- also revised
- 2026 oversupply forecast
- 250,000 b/d
- 3.84 million b/d
Oil prices have dipped with ICE Brent trading just above $61 per barrel, despite the Fed lowering rates to 3.50-3.75% and aggressive tanker seizures by the Trump administration. The IEA has also revised its 2026 oversupply forecast down by 250,000 b/d to 3.84 million b/d, raising demand growth expectations to 860,000 b/d. This shift reflects market uncertainty ahead of potential geopolitical developments.
Not investment advice. For informational purposes only.