Skip to content
Guavy Logo GUAVY
Sign up
Back to Guavy Wire
Commodities

Oil Prices Slip as Weaker Demand Outlook Takes Center Stage

Guavy AI Editorial Team
Instruments
Oil
Share

Oil prices eased on Thursday as attention turned to expectations of weaker global oil demand this year.

The latest data from the Energy Information Administration showed that U.S. commercial crude oil inventories posted their largest weekly gain since January 2023, rising by 17.4 million barrels to 424.4 million barrels in the week ended August 7.

This was despite a significant build-up of exports and lower consumption forecasts from OPEC and the International Energy Agency, which lowered its world oil demand growth forecast for 2026 to 580,000 barrels per day in its monthly oil market report.

More on Commodities

Commodities just now

FANG Rises Production Outlook Without Increasing Capital Spending

Commodities just now

Corn Prices Find Floor at $4, Soybeans May See Boost

Commodities 8m ago

KZAM Supplies Battery-Grade Copper Foil to Global Battery Maker

Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Guavy Logo GUAVY

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

Navigate

Markets

Resources

© 2026 Guavy Inc

Terms Privacy Policy