Oil Prices Slip as Opec Cuts Demand Forecast; Iran Tensions Keep Supply Risks Alive

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Energy

13 August 2026 at 8:34 am

Oil Prices Slip as Opec Cuts Demand Forecast; Iran Tensions Keep Supply Risks Alive

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Summary

Oil prices have fallen due to reduced global demand forecasts from Opec and the IEA, alongside increased US inventories. Ongoing tensions in key shipping straits and inconclusive negotiations between Iran and the US continue to fuel supply concerns.

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