Oil Steadies Due To India’s Pressure And Supply Glut

Oil prices stabilized, with WTI below $64 and Brent close to $67 by a monthly drop. India’s reaction to US pressure regarding Russian imports is being watched by traders. Markets are impacted by concerns about a trade war and OPEC+ oversupply. A record glut is imminent as geopolitical tensions rise and a crucial OPEC+ meeting is scheduled for September 7.