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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 of WTI crude oil prices, August 31 to September 24, 2026, peaking above $100 on September 10 before easing.

Iran offered to reopen the Strait of Hormuz within days if US military pressure eases, but markets treated it as a conditional proposal in…

WTI Crude Holds Near $92 on Hormuz Reopening Offer

September 24, 2026

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Line chart tracking Brent crude oil prices swinging between $86.38 and $89.83 amid shifting Hormuz Strait headlines in August 2026.

Brent crude swung from a one-month low of $86.38 on Wednesday to $89.83 by Thursday, as diplomatic signals over the Strait of Hormuz reversed within 48 hours.

Oil's 48 Hour Reversal Shows Why Hormuz Remains a Tail Risk, Not a Resolved Story

August 28, 2026

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