🌍 BREAKING: Oil Market in Turmoil — Brent Dives Below $60 as Global Glut Looms! 📉🛢️

#Oil prices are sliding sharply — Brent crude has now fallen below the critical $60/barrel level, hitting multi-year lows amid fears of a supply glut and #weak demand.

🔎 Key highlights:

🔥 Brent crude fell below $60/bbl, the lowest in years, as surplus worries intensify.

📦 Global oversupply continues to build, pressuring prices even as U.S. crude inventories fall.

📉 Lower oil prices are now a tailwind for major importers like India — easing costs and boosting economic spending power.

🤝 Hopes of a Russia-Ukraine peace deal may further weigh on prices by easing logistical bottlenecks and releasing trapped barrels.

⚠️ What analysts are saying about 2026: 📊 The #US Energy Information Administration (#EIA ) forecasts that rising global inventories will continue into 2026 — pushing Brent toward the mid-$50s per barrel next year.

📈 Some energy strategists warn of a significant oil surplus through 2026, driven by slow demand growth and expanding production.

💡 Other forecasts suggest prices could stay below $60 for much of 2026 unless OPEC+ or geopolitical events tighten supply.

📌 So what does this mean for you?

🔹 Lower gas prices at the pump

🔹 Cheaper fuel costs for airlines & transport

🔹 Energy stocks under pressure

🔹 Possible economic boost for oil-importing nations

🔹 Continued volatility in global markets......