Asian markets morning oil prices fall affected by supply prospects

Oil prices fell in early trading in Asia. The near-month West Texas Intermediate (WTI) crude oil futures fell by 0.3% to $63.77 per barrel, while the near-month Brent crude oil futures fell by 0.3% to $67.40 per barrel. According to a report by the Commonwealth Bank of Australia, market sentiment is under pressure, with media reports suggesting that OPEC+ may consider increasing oil production again in October. Compared to the target of $70 per barrel set last year, OPEC+ may be seeking to expand its market share and could be more accepting of lower Brent crude oil prices in the range of $60-65 per barrel. The Commonwealth Bank of Australia predicts that Brent crude oil futures will fall to $63 per barrel in the fourth quarter.