Oil prices fall as Brent slides below $63
Brent crude futures fell below $63 per barrel on Wednesday for the first time since 11 April, according to trading data from London’s ICE Futures Exchange.
The July Brent futures contract declined by 1.69% to $62.97 per barrel as of 2:36 a.m. GMT. The downward trend continued, with prices falling further to $62.82 by 3:04 a.m. GMT.
West Texas Intermediate (WTI) futures for June delivery also experienced significant losses, dropping 2.81% to reach $59.93 per barrel, slipping below the $60 threshold.
The decline comes amid broader market pressures, marking a seven-week low for global oil benchmarks.
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