The International Energy Agency now projects a 1.6 million barrel a day decline in 2026 oil demand, its first full-year contraction call since the pandemic, while OPEC still expects demand growth of 580,000 barrels a day even after trimming that forecast for a fourth straight month. The widening gap helped snap a six-session rally in Brent crude, which fell 1.19% to 87.92 dollars a barrel Thursday as WTI dropped 1.39% to 82.11 dollars. US crude inventories built by 17.4 million barrels the prior week, the largest weekly increase since early 2023.
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