Oil Sell-Off Deepens as Brent Breaks Below $60 – ING

Oil sell-off deepens as Brent breaks below $60 – ING

Oil prices slid sharply as surplus fears intensified, pushing Brent below $60 per barrel, though supply risks and falling US Crude inventories offered limited near-term support, ING's commodity experts Ewa Manthey and Warren Patterson note.

Brent crude falls below $60 as global surplus pressures prices

Brent crude slipped below $60/bbl for the first time since May, as rising global supply continues to outpace demand. A growing surplus outlook for 2026, combined with easing geopolitical risk premiums, is adding fresh pressure to oil markets.