Oil eases as weaker demand outlook counters Mideast supply concerns

Oil falls on weaker demand outlook and higher US stocks

LONDON: Oil prices declined on Thursday as investors assessed prospects for weaker global demand this year and higher US crude stocks, though prices found support from a lack of progress in talks over the blockaded Strait of Hormuz and disruptions to supply. Brent futures were down $2.20, or 2.47%, at $86.78 a barrel by 1324 GMT, trimming gains accumulated over the previous six sessions. US West Texas Intermediate (WTI) crude fell $2.34, or 2.81…

Oil prices ease, helping to limit worries about inflation

Oil prices eased on Aug. 13, helping to limit worries about inflation. The price for a barrel of Brent crude oil fell 2.5% to $86.75.

Oil Prices Ease as Weaker Demand Outlook Offsets Gulf Supply Concerns

Oil prices edged lower on Thursday after rising for several sessions, as investors shifted their attention toward weakening global demand forecasts and a sharp increase in U.S. crude inventories. Prices remained supported, however, by the continued uncertainty surrounding the Strait of Hormuz and the lack of progress in efforts to ease tensions between the United States and Iran.

Oil eases as weaker demand outlook counters Mideast supply concerns

Brent futures are down 42 cents, or 0.47%, at $88.56 a barrel

Oil settles down 2% on weak demand outlook, hefty US crude build

Opec lowered its world oil demand growth forecast for 2026 to 580,000 barrels per day Read more at The Business Times.