Overview

• Brent crude declined to $66.8 per barrel and WTI to $63.6, marking a 1.7% drop early Monday.
• Progress in U.S.-Iran nuclear negotiations in Rome raises the possibility of Iranian crude re-entering the global market.
• OPEC+ plans to increase output by 411,000 barrels per day starting in May, adding to downward price pressure.
• Investor concerns over global trade tariffs and their impact on fuel demand continue to weigh on the market.
• Reduced market liquidity during the Easter holiday has amplified price volatility in the oil sector.