Economy · World
Oil Prices Dip Amid Lower Demand Forecasts and US-Iran Tensions
Crude oil prices declined on August 13, 2026, influenced by lowered global demand forecasts from OPEC and the International Energy Agency. OPEC cut its 2026 demand growth forecast to 580,000 barrels per day, while the IEA also reduced its outlook. Despite ongoing supply risks due to tensions in the Strait of Hormuz and Bab el-Mandeb Strait related to the US-Iran conflict, oil prices fell. Brent crude futures were near $87 per barrel, and US West Texas Intermediate (WTI) crude was around $81.97 per barrel. Indian stock markets, including the Sensex and Nifty, also saw declines.
How outlets across the spectrum covered it
L 2 C 12 R 2
- Left (2): The Hindu, The Telegraph (India)
- Centre (12 votes, 13 outlets): Bloomberg, Business Standard, CNBC, Channel News Asia, Deccan Herald, Euronews, Mint, NDTV, Reuters, The Economic Times · The Times of India (Times Group — 1 vote), The Free Press Journal, The Hindu BusinessLine
- Right (2): The Pioneer, Times Now