Overview

• Brent December futures dropped about 2% to $61.97, slipping under $62 for the first time since May 8, according to trading data.
• WTI November futures declined roughly 2.1% to $58.24 during the session.
• The IMF now projects an average oil price of $68.9 per barrel in 2025 and $65.8 in 2026, using a simple mean of Brent, Dubai and WTI benchmarks.
• Energy prices are expected to fall 7.9% in 2025 and 3.7% in 2026, driven mainly by weaker oil prices, the IMF report says.
• The fund links a softer global demand outlook, influenced by U.S. tariffs, with rising OPEC+ supply, and warns that a diplomatic impasse over Ukraine could trigger secondary sanctions and potential disruptions to Russian exports that would lift prices.