Brent crude falls to $64.5 as global supply concerns weigh on the market

Oil prices slipped slightly on Wednesday morning, hovering near a four-year low, as fears of oversupply and sluggish demand continue to pressure the global market.

According to Trading Economics, rising tensions in international trade are also dampening fuel demand expectations.

By 09:00 Baku time, Brent crude June futures on the ICE Futures exchange dropped $0.17 (0.3%) to $64.50 per barrel.

WTI May futures on the New York Mercantile Exchange (NYMEX) declined $0.19 (0.3%) to $61.14 per barrel.

N.Tebrizli