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Brent crude falls sharply as global oil supply overtakes demand, Eric Daugherty notes

Brent crude falls sharply as global oil supply overtakes demand, Eric Daugherty notes
Oil supply exceeds demand, Brent crude drops

Global oil supply has overtaken demand for the first time since the beginning of the Iran war, with daily output reaching 105.4 million barrels as Gulf exports returned.

Eric Daugherty, founder and CEO of The Daugherty Company, added that Brent crude has dropped 32%, falling from $136 a barrel in October.

Daugherty has previously noted other high-profile market moves. He reported that Rep. Ro Khanna's household sold Nvidia stock at its peak before news led to a share price drop. Separately, lawmakers have also scrutinized business practices such as the alleged sale of empty barrels at Ilhan Omar's family winery.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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