Oil is getting cheaper due to supply risks and instability in the Fed

After a series of increases, oil prices went down: Brent fell to $67.20 per barrel, and WTI dropped below $63.73. Investors are waiting for clearer signals regarding supplies and are assessing the consequences of Donald Trump's decision to remove a member of the Fed's board of governors.

An additional pressure factor was the announcement of US plans to impose double duties on all imports from India in response to its purchases of Russian oil.

In recent weeks, oil prices have been moving in a narrow range: traders are taking into account both possible US tariff measures and the prospects for increased production by OPEC+ countries. Earlier, the International Energy Agency warned that the market could face a record surplus next year due to slowing demand and rising supply.

Analysts believe that if Washington does decide to double Indian tariffs, the market may reconsider the prospects for Russian supplies, which in the short term could bring Brent back to around $70.