Oil prices fall as tensions ease, OPEC+ may increase supply, hedge funds turn bearish.

From Yahoo Finance: 2025-06-30 15:26:00

Oil prices fell slightly after a major drop last week, with WTI crude settling near $65 a barrel. OPEC+ may increase supply by 411,000 barrels per day for August, the fourth consecutive month of such hikes.

Hedge funds turned bearish amid eased Middle East tensions. Trump hinted at sanctions relief for Iran, while commodity trading advisers reduced long positions in WTI.

Oil prices are down 9% this quarter, near pre-attack levels. Market focus shifts to OPEC+ supply increase impact and trade talks progress, as tariffs loom in 10 days.

Progress seen in trade negotiations, with Canada and EU making moves. China’s oil demand outlook improves slightly with better factory activity, still in contraction.

Read more: Oil Falls as Mideast Tensions Ease Ahead of OPEC+ Decision