The Canadian Index

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Bar chart comparing IEA and OPEC 2026 oil demand forecasts amid a pullback in Brent crude prices.

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.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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Line chart showing Brent crude oil completing a three week price round trip to 79.16 dollars.

Brent crude rose 4.1% Monday to $79.16 a barrel after a fourth wave of US strikes against Iran, met by Iranian retaliation against Bahrain,…

Iran Hit Three US Allies at Once This Weekend. The Shipping Data Tells a More Measured Story Than the Rhetoric Does.

July 13, 2026

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Line chart showing Brent crude oil prices falling below $87 after five consecutive sessions of gains.

Brent crude fell 2.18% to $87.04 Thursday, snapping a five session winning streak that had carried it from $79.36 on August 4 to a high of $88.98 on August 12.

Oil Fell This Week. The Hormuz Rhetoric Didn't.

August 14, 2026

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Bar chart showing a split market reaction across twelve assets after Iran threatened to halt regional energy exports.

Iran's Revolutionary Guard threatened this week to halt all energy exports from the Middle East, not just shipping through the Strait of…

Iran's Threat Just Moved From Controlling the Strait to Threatening the Whole Gulf's Oil

July 15, 2026

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Line chart showing WTI crude oil jumping 5.55 percent to $74.35 a barrel after Iranian tanker attacks near Hormuz.

The jump followed Iranian attacks on three tankers near the Strait of Hormuz, including a Qatari LNG carrier, after which the US Treasury…

The US Revoked Iran's Oil Licence After Three Tanker Attacks, and the Real Question Is Whether the June 17 Truce Survives

July 8, 2026

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Line chart showing daily vessel crossings through the Strait of Hormuz falling sharply in mid-August 2026.

Daily vessel crossings through the Strait of Hormuz fell from 19 to 3 over the week of August 11 to 16, even as the United States maintained the strait remained open.

Hormuz Shipping Traffic Just Fell 19.5 Percent, and the Reason Is the Threat Against the Mediator, Not Iran

August 16, 2026

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Line chart showing Brent crude trading in a range around 89 dollars a barrel through mid-August 2026 amid an expiring Strait of Hormuz ceasefire.

Brent crude has traded in a range without a sustained break in either direction over the past month, even as two Strait of Hormuz deadlines…

Two Deadlines Expire in the Strait of Hormuz Today. The Market Has Been Pricing Around Both.

August 17, 2026

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