An oil refinery near the Port of Long Beach, Calif., on Feb. 26, 2025. John Fredricks/The Epoch Times
Brent crude oil futures were trading at multi-month lows on Oct. 20, amid concerns of a supply glut in the market and a worsening U.S.–China relationship.
Oil was trading at $60.95 per barrel as of 6:40 a.m. EDT, down 0.55 percent from its closing price on Friday. Prices have been hovering near this level for the past couple of days. The last time oil prices were at this level was in early May, more than five months ago.
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