Oil prices fell for the third straight week due to oversupply concerns, with WTI at $57.54 and Brent at $61.29 per barrel. Tariff tensions and Middle East calmness have weighed on energy markets. Trump’s call with Putin hints at a second summit in Budapest. US crude stockpiles rose for a third week, adding to global supply fears. The IEA cut demand forecast and warned of larger oil glut in 2026, aligning with Wall Street’s supply glut warnings. Goldman Sachs anticipates Brent dropping to $56 and WTI to $52 per barrel, with both down over 18% YTD.

Read more at Yahoo Finance: Oil notches third straight weekly loss as oversupply worries grow