Crude oil prices fell on Tuesday as concerns about weakening demand outweighed supply-side factors. Economic uncertainty in major economies, coupled with rising crude inventories, contributed to the price decline.

Analysts noted that the market is particularly sensitive to demand signals given the current global economic climate. Reports of slowing manufacturing activity in key regions have heightened concerns about future energy consumption.

Factors Influencing Oil Prices

• Economic Data: Weak economic data releases from major economies are weighing on demand outlook.
• Inventory Levels: Rising crude inventories indicate weaker demand and exert downward pressure on prices.
• Geopolitical Events: Geopolitical tensions and supply disruptions can cause price volatility.

Traders are closely watching upcoming economic releases and geopolitical developments for further indications of market direction. The near-term outlook for crude oil prices remains uncertain, with demand concerns likely to persist.