Oil Prices Drop 2% Amid Supply Glut Concerns

Oil prices went down by 2% on Friday.

This happened because people who invest in oil are worried that there might be too much oil in the world next year.

They are also watching to see if there can be a peace deal between Ukraine and Russia.

If there is a peace deal, it might change how much oil Russia can sell.

The prices of two types of oil, Brent and WTI, have been going down all year.

The International Energy Agency says there might be too much oil next year.

People are also watching a meeting between the leaders of Ukraine and the U.S. to talk about peace.

The U.S. is also trying to stop oil from Venezuela from being sold, but this might not change oil prices much.

The main thing people are worried about is that there might be too much oil in the world.