Oil prices fell to their lowest levels since June on signs that global supplies are surpassing demand, despite plans by the OPEC+ alliance to control its production until 2024.
Brent crude fell to $75 a barrel after falling 11% in the longest loss since February, and WTI recorded less than $70.
Official U.S. data showed a further increase in crude stocks at the Cushing storage center, while oil production remained near a record high and gasoline demand fell.
Market time differentials, which are widely monitored, refer to the abundance of supplies in the near term.
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