US EditionOil Prices Fall on Expected Demand Drop, but Set for Weekly Gain
Oil prices dropped due to lower U.S. summer demand and increased production from OPEC+, yet weekly gains reflect ongoing geopolitical tensions and supply uncertainties.
- Oil prices fell on Friday, August 29, 2025, in the U.S. amid expectations of lower demand but were set for a 1% weekly gain.
- The decline occurred as the peak seasonal demand in the United States tapered off following the Labor Day holiday, despite increasing output from OPEC+ members and ongoing uncertainty surrounding sanctions on Russian oil.
- Crude oil shipments from Russia to Hungary and Slovakia have resumed via the Druzhba pipeline following a disruption caused by a recent Ukrainian attack, while Saudi Arabia is reportedly considering reducing prices for Asian purchasers in response to weaker demand.
- Analysts forecast Brent oil futures could fall to $63 a barrel in Q4 2025, and PVM's Varga noted India will likely continue buying Russian crude despite U.S. pressure and new tariffs doubling imports from India.
- These developments suggest markets face balancing factors: easing U.S. fuel demand, ongoing geopolitical risks, and evolving global supply dynamics ahead of a key OPEC+ meeting on September 7.
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The Star Kuala Lumpur
Business TimesOil prices fall with expected low demand, upcoming supply boost
Oil prices fell on Friday night as traders looked toward weaker demand in the US, the world's largest oil market, and a boost in supply this autumn from OPEC and its allies.
Oil Set For Another Weekly Gain
Oil prices fell on Friday due to expectations of lower demand in the U.S. Friday, August 29, 2025 Oil prices are headed towards a second straight weekly gain of 1%, with ICE Brent hovering slightly above $68 per barrel, as hopes for a negotiated settlement in the Russia-Ukraine conflict dissipate and US-India trade tensions remain unresolved. Market activity was seasonally low in late August; however, next week could provide a much-needed boost …
Oil drops but set for weekly gain
Brent crude futures for October delivery dropped 39 cents, or 0.6%, at $68.23, while the more active contract for November slipped 38 cents, or 0.6%, to $67.60 Oil prices dropped on Friday but are set for a weekly gain, caught between expectations of lower demand as the end of summer nears in the US and some uncertainty about the availability of Russian supply. Brent crude futures for October delivery, which will expire on Friday, dropped 39 cen…
Oil prices dip but headed for weekly gain amid supply uncertainty
Crude oil prices slipped on Friday, though they remain on track to post modest weekly gains, as traders weighed weaker demand prospects in the United States against concerns over Russian supply disruptions. Brent crude futures for October delivery, set to expire Friday, fell 53 cents (0.8%) to $68.09 per barrel at 0251 GMT. The more active November contract dropped 48 cents (0.7%) to $67.50. U.S. West Texas Intermediate (WTI) futures slid 51 cen…
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