Oil prices experienced a decline on Thursday, following analysts' adjustments to their global oil demand forecasts for 2026. This revision was attributed to ongoing disruptions stemming from the Middle East conflict. However, supply constraints resulting from the same conflict helped
maintain prices at relatively high levels. Brent crude futures recorded a decrease of $0.27, settling at $88.71 per barrel, while U.S. West Texas Intermediate (WTI) crude dropped by $0.37 to reach $82.90. The Organization of the Petroleum Exporting Countries (OPEC)
had previously lowered its forecast for global oil demand growth in 2026 to 580,000 barrels per day, according to its latest monthly oil market report issued yesterday.
