Tuesday, June 16, 2026
Oil prices fall as supply concerns ease- oil and gas 360

Oil prices fall as supply concerns ease

Reuters LONDON – Oil prices fell on Monday as force majeure at Libya’s largest oilfield was lifted, a Norwegian strike affecting production ended and U.S. producers began restoring output after Hurricane Delta. Brent crude LCOc1 fell 57 cents, or 1.3%, to $42.28 a barrel by 1340 GMT and U.S. West Texas Intermediate CLc1 was down 60 cents, or 1.5%, at $40.00. “It’s all about