Oil Continues To Collapse

• 15.10.2025, 10:50

Futures are declining.

Oil prices are falling on Wednesday after falling in the previous session as investors weigh the IEA's forecast of a supply glut in 2026 and the ongoing trade standoff between the United States and China could reduce global demand, The Moscow Times wrote.

Brent crude futures were down 0.27% to $62.22 per barrel by 09:00 Minsk time, while WTI crude fell 0.2% to $58.59 per barrel.

The two contracts ended the previous session at five-month lows.

The IEA on Tuesday raised its forecast for growth in global oil supply this year, and lowered its estimate of demand due to economic difficulties in the world. The agency believes the resulting market surplus could reach 4 million bpd in 2026, the report said.

"The market is focused on oversupply with mixed signals regarding demand. Increasing geopolitical risks and escalating trade conflict are also putting additional pressure on prices," said LSEG's Emril Jamil.

The trade war between the US and China, the world's two largest oil consumers, heated up again last week, with both countries also imposing reciprocal additional port charges on ships after President Donald Trump announced duties of 100 percent. The decision will increase costs, damage supply chains and could lead to a drop in economic activity.

"Apart from the trade relationship between the US and China and the course of their negotiations, the key factor for oil prices now is the degree of oversupply reflected in the change in global inventories," said Yang An of Haitong Futures.