COMMODITY
Crude oil futures settle lower on Friday
Sep-06-2025

Crude oil futures settled lower on Friday as oversupply concerns grow stronger ahead of the OPEC+ alliance's meeting on August 7, where reportedly they will be planning to push for higher output in October. Any hike would follow their 2.2 million barrels per day of expansion of output so far in 2025. A steep increase could lead to oversupply in the market and weigh on oil prices.

Benchmark crude oil futures for October declined $1.51 or 2.38% at $61.97 a barrel on the New York Mercantile Exchange. Brent crude for November delivery decreased $1.49 or 2.22% to settle at $65.50 a barrel on London's Intercontinental Exchange.

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