Oil Trading Giant Trafigura Sees Brent Falling Below $70 Soon

Brent Crude oil prices are set to drop into the $60s per barrel range soon, according to one of the largest independent oil traders, Trafigura. Brent Crude, the international benchmark, was trading at $71.63 a barrel, up by 0.65% on the day, early on Monday, as both benchmarks rebounded following a major selloff last week. Oil prices dropped to their lowest level so far this year and settled on Friday at the lowest levels since June 2023. Ben Luckock, Global Head of Oil at Trafigura, expects Brent to drop into the $60s handle, although he warned…