Oil futures retreated on Thursday as the International Energy Agency lowered its outlook for global demand growth, adding pressure to a market already attentive to expanding supply. Benchmark Oil – Brent Crude slid about 3% to trade near $67 per barrel, while Oil – US Crude fell into the low $62 range after the IEA cut its 2026 demand-growth forecast to 850,000 barrels per day from 930,000.
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Despite the session’s pullback, both Brent and WTI are up roughly 9% over the past month, reflecting earlier strength tied to supply constraints and risk sentiment. The short-term technical backdrop remains constructive, with WTI flashing a Strong Buy signal and Brent showing a Buy bias, suggesting traders still see the recent dip as a potential pause rather than a trend reversal. Investors can explore more updates, prices, and analysis across global markets at Commodities.