Crude Oil Prices Dip Below $64 Amid Geopolitical Tensions, Oversupply Concerns

• Crude oil prices, including Brent and West Texas Intermediate, fell due to easing Iran tensions and President Trump's Greenland acquisition attempt.
• Brent crude slipped below $64, while West Texas Intermediate traded around $59 per barrel.
• Despite easing tensions, Iran's Supreme Leader Ayatollah Khamenei reported thousands killed in recent anti-government protests.
• Concerns about Trump's Greenland move and threats of tariffs on European countries negatively impacted market sentiment.
• Oversupply fears persist, with the International Energy Agency projecting a 3.8 million barrels per day surplus this year, though some disruptions like reduced Kazakh supply exist.

Why It Matters: Crude oil prices are down due to geopolitical uncertainties and persistent global oversupply concerns.