Oil prices hit a five-month low due to U.S.-China trade tensions and a predicted supply surplus in 2026. Brent crude fell to $61.91 a barrel, WTI to $58.27. Bank of America warned prices could drop below $50 if tensions increase and production rises. China and U.S. trade war escalates, with concerns over global freight flows. China faces deflationary pressures with falling consumer and producer prices in September. U.S.-China trade tensions pose economic risks, prompting calls for Fed rate cuts. IEA forecasts global oil surplus in 2020, OPEC+ output increase. Britain targets Russian oil companies and tankers to tighten energy sanctions. Russia’s oil output falls, Azeri oil output declines. US oil inventories expected to rise by 0.3 million barrels, first increase in three weeks.

Read more at Yahoo Finance: Oil prices hit 5-month low on US-China trade tensions, looming supply surplus