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Oil prices fell for a third week due to surplus concerns, rising output, and trade tensions.
Oil prices dropped on Monday, with Brent crude and U.S. West Texas Intermediate both falling for the third consecutive week, driven by concerns over a global supply surplus and weakening demand.
The International Energy Agency forecast a growing oil glut in 2026, while rising production, record U.S. output, and escalating U.S.-China trade tensions fueled fears of an economic slowdown.
The World Trade Organization warned that ongoing trade disputes could reduce global output by up to 7%.
U.S. oil and gas rigs rose for the first time in three weeks, signaling potential supply growth.
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Los precios del petróleo cayeron por tercera semana debido a las preocupaciones sobre los excedentes, el aumento de la producción y las tensiones comerciales.