Crude oil prices experienced significant volatility between mid-May and early June. Brent crude retreated from $***.**/barrel on May ** to $**.** by May **, while WTI dropped from $***.** to $**.** during the same period. The decline was driven by reduced concerns over supply disruptions and growing worries that slower global economic activity could weaken oil demand. Prices recovered modestly in early June, with Brent rising to $**.**/barrel and WTI to $**.**/barrel on June *, supported by ongoing supply disruptions in the Middle East and tighter global inventories. However, the rebound proved short-lived, and by June **, Brent had retreated to $**.**/barrel and WTI to $**.**/barrel as market participants focused on the EIA Cuts **** Global Oil Demand Growth Forecast. Overall, despite persistent supply-side risks linked to disruptions in the Strait of Hormuz, concerns over demand destruction and slower economic growth continued to exert downward pressure on crude oil prices.
