Oil futures drop as demand concerns persist amid Middle East tensions
Oil futures declined on Monday as worries about the demand outlook weighed on investor sentiment. The ongoing tensions in the Middle East also contributed to the downward pressure on prices.
The global oil market remains uncertain as concerns about the pace of economic recovery persist. The resurgence of COVID-19 cases in various parts of the world has raised doubts about the strength of oil demand in the near term.
Investors are closely monitoring geopolitical developments in the Middle East, particularly in key oil-producing regions. Any escalation in tensions could further disrupt oil supply and impact prices.
Overall, the combination of demand uncertainties and geopolitical risks is keeping oil prices under pressure. Investors should stay informed and be prepared for potential market volatility in the coming days.