Oil prices fell on Tuesday after expectations of increased OPEC+ output and the resumption of oil exports from Iraq’s Kurdistan region through Turkey fueled concerns of an imminent supply surplus.
Brent crude futures for November delivery, expiring Tuesday, dropped 47 cents, or 0.69 percent, to $67.50 a barrel.
The more active December contracts slipped 43 cents, or 0.64 percent, to $66.66. U.S. West Texas Intermediate traded at $63.05 a barrel, down 40 cents, or 0.63 percent.
These declines extend Monday’s drop, when both Brent and WTI fell by more than 3 percent at settlement, marking their largest daily losses since August 1, 2025.
