Oil Prices Fall for Third Consecutive Week on Oversupply Concerns

Crude extended its losing streak amid heightened worries that global supply is outpacing demand.

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Terms & Concepts
  • Oversupply: A market condition where the supply of a commodity exceeds demand, often leading to price declines.
  • Crude Oil: Unrefined petroleum that is extracted from the ground and processed into fuels and other products.
  • Commodity Market: A marketplace for buying and selling primary products such as crude oil, metals, and agricultural goods.