London: Global oil prices remained largely unchanged this week as weak demand and growing concerns over an oversupplied market continued to pressure the energy sector. Brent crude hovered around $63.70 per barrel, while U.S. West Texas Intermediate (WTI) traded near $59.80, extending a months-long trend of stagnant prices.

Analysts say that despite some optimism from producers, the market is still struggling to find balance. Data from J.P. Morgan shows global oil demand growth this year has slowed to about 850,000 barrels per day, slightly below earlier projections. At the same time, U.S. crude inventories rose by more than 5 million barrels last week, signaling that consumpti on remains weaker than expected.

While geopolitical factors have added some temporary support particularly sa

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