As investors weighed the warning from the International Energy Agency concerning a surplus of supply in 2026 and trade tensions between the United States and China that could To reduce demand, oil prices fell on Wednesday.

Brent crude oil futures have fell by 21 cents, or 0.3%, to 62.18 dollars per barrel at 04:25 GMT, while West Texas Intermediate US oil futures have fell by 16 cents, or 0.3%, to 58.54 dollars per barrel. Analysts believe That, on average, crude inventories increased by about 200,000 barrels during from the week until October 10.

The International Agency for Energy said on Tuesday that the global oil market could be facing a surplus of up to 4 million next year barrels per day, a greater surplus than previously expected, while OPEC+ producers and their rivals are increasing their production and that the Demand is still low.