Brent oil price slips to $64 as risk premium ebbs; U.S. inventories loom
Brent crude fell 1.6% to $64.17 a barrel as easing geopolitical tensions shifted focus to rising inventories. The IEA forecasts a Q1 surplus of 4.25 million bpd, but major producers downplay glut concerns. U.S. crude stocks rose by 3.04 million barrels last week. Traders await U.S. inventory data Thursday and an OPEC+ meeting on Feb. 1.