Brent crude retreated Monday after last week’s rise, with concern about demand from high prices joining supply risks and a deep inventory shortfall in a market facing competing pressures.
A Hindustan Times update late Sunday put Brent at $114.02 a barrel, after the contract had traded near $117 the previous week. The $114.02 Brent quote was as of 11:41 p.m. ET Sunday (03:41 UTC Monday).
The International Energy Agency (IEA) projects global oil consumption will be lower in 2026 than in 2025. Inventories remain far from replenished: despite recovering supply, worldwide stocks are more than 500 million barrels short of the amount recorded at February’s close.
Reuters linked the prior week’s price increase to supply worries following Houthi attacks in Saudi Arabia. The possibility of further attacks remains an upside risk for prices, even as concern grows that higher crude costs may curb consumption.
The oil retreat also featured in EconoTimes’ earlier coverage of gains in gold and silver.
