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Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now At 11:30 am London time (1030 GMT), the ICE Brent July contract was trading 13 cents/b lower than the May 5 settle at $68.83/b, while June NYMEX light sweet crude was down 19 cents/b at $65.44/b. Worries over Indian oil demand are coinciding with OPEC+ gradually starting to bring supply back onto the market, along with growing Iranian supply . ING Head of Commodities Strategy Warren Patterson and ING Senior Commodities Strategist Wenyu Yao wrote in a daily note. While right now it appears as though the market should be able to absorb this additional supply, the risk is that the demand picture deteriorates further, which would lead to a looser market balance .

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