COMMODITY
Crude oil futures settle lower amid over supply concerns
Sep-12-2025

Crude oil futures settled sharply lower on Thursday after International Energy Agency's (IEA) monthly report boosted the supply estimate for 2025 and 2026. The IEA’s supply growth forecast for 2025 and 2026 raised caution over excess supply. In its monthly report, the IEA has forecasted supply growth of 2.7 million barrels a day (bpd) for 2025 and 2.1 million barrels a day in 2026. Earlier estimates were 2.5 million and 1.9 million bpd, respectively.

Benchmark crude oil futures for October declined $1.30 or 2.04% at $62.37 a barrel on the New York Mercantile Exchange. Brent crude for November delivery decreased $1.12 or 1.66% to settle at $66.37 a barrel on London's Intercontinental Exchange.

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