🛢️Oil’s Rally Just Hit a Demand Problem.
Crude prices slipped Thursday as a surprisingly large jump in U.S. inventories shifted attention away from Middle East supply risks. Brent was around $88.87 a barrel, while U.S. crude traded near $83.11.
The key figure: U.S. crude stockpiles surged 17.4 million barrels last week, the biggest weekly increase since January 2023. Exports fell sharply, helping drive the build and raising fresh questions about demand.
That’s coming at an awkward time for the oil market. Geopolitical tensions around Iran and the Strait of Hormuz are still threatening supply, but weaker demand forecasts are starting to push in the opposite direction.$CL
Both OPEC and the International Energy Agency have lowered their 2026 demand outlooks. For oil traders, the next move may depend on which force wins: supply disruption fears or a cooling global demand picture. 👀$BZ
Crude prices slipped Thursday as a surprisingly large jump in U.S. inventories shifted attention away from Middle East supply risks. Brent was around $88.87 a barrel, while U.S. crude traded near $83.11.
The key figure: U.S. crude stockpiles surged 17.4 million barrels last week, the biggest weekly increase since January 2023. Exports fell sharply, helping drive the build and raising fresh questions about demand.
That’s coming at an awkward time for the oil market. Geopolitical tensions around Iran and the Strait of Hormuz are still threatening supply, but weaker demand forecasts are starting to push in the opposite direction.$CL
Both OPEC and the International Energy Agency have lowered their 2026 demand outlooks. For oil traders, the next move may depend on which force wins: supply disruption fears or a cooling global demand picture. 👀$BZ
