Oil Prices Fall as Lower Demand Forecasts Offset US-Iran Tensions

Oil prices fell by more than $1 per barrel on Thursday after forecasters lowered their projections for global oil demand in 2026, although supply disruptions linked to the U.S.-Israeli conflict with Iran continued to provide some support to prices.

Brent crude declined $1.29, or 1.5%, to $87.69 per barrel, while WTI fell $1.30, or 1.6%, to $81.97 by 0100 GMT.