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شبكة فلسطين الإخبارية
Oil prices drop amid lower demand outlook
Oil prices declined by more than a dollar due to lowered global demand forecasts for crude in 2026 and were affected by disruptions caused by the US-Israeli conflict with Iran. OPEC revised its demand growth estimates downward by 580,000 barrels per day, while the International Energy Agency (IEA) forecast a contraction in oil consumption of 1.6 million barrels per day this year, due to supply restrictions and rising prices, as well as increasing US oil inventories to their highest level since June. Despite these pressures, prices remain supported by supply risks in the region, especially following attacks on major shipping routes and the lack of progress in negotiations to revive the nuclear deal with Iran.
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