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Oil prices decline amid lower demand forecasts
Oil prices fell today, Thursday, after rising for five consecutive sessions, due to a surprising increase in U.S. crude inventories by 17.4 million barrels— the highest level since June. Additionally, expectations from OPEC and the International Energy Agency point to a contraction in global oil demand in 2026. Meanwhile, prices remain relatively high, as progress in talks to end the war and revive the nuclear agreement has stalled, and security conditions for maritime navigation have deteriorated, further increasing market supply uncertainty.
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