Oil prices dipped below $60 per barrel for Brent and $55 for WTI due to oversupply concerns and potential peace deal in Ukraine. Trump ordered a blockade on Venezuelan crude, yet prices remain low. Analysts predict further price drops in 2026, with Goldman Sachs expecting Brent to average $56.

Peace deal for Ukraine remains uncertain, with Russia unwilling to make concessions. Recent negotiations suggest no progress, impacting oil prices. Despite stable Russian oil exports, prices continue to drop. Analysts predict lower prices in 2026 due to oversupply concerns and robust demand.

JP Morgan reiterated market oversupply, expecting lower prices in 2026. Goldman Sachs predicts Brent at $56 and WTI at $52, adjusting oil demand growth outlook. Analysts expect oil prices to rebound in 2027 as market balances. U.S. shale output moderating due to low prices.

Analysts note slowing oil demand and tariff pressure easing. Trade deals relieve earlier concerns, suggesting recovering demand. Hard evidence of production cuts needed to balance market. Uncertainty around Ukraine peace deal keeps floor under oil prices. Supply responses among producers may impact prices.

Read more at Yahoo Finance: How Far Can Brent and WTI Fall in an Oversupplied Market?