Oil price fell more than 1 percent on Tuesday, extending losses from the previous session on growing expectations of a 2026 supply glut.
Benchmark Brent crude futures were down 1.2 percent at $59.86 a barrel, dropping below $60 a barrel for the first time since May. WTI crude futures fell 1.2 percent to $55.97.
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Market Analysis
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.