Oil drops on lower demand forecasts despite deadlock in US-Iran talks

Oil prices fell more than $1 on Thursday as forecasters loweredglobal oil demand projections for 2026 because of the disruptions from the US-Israeli ​war on Iran, though the supply constraints from the conflict provided a ‌floor for the market. Brent futures dropped $1.29, or 1.5%, at $87.69 a barrel by 0100 GMT.US West Texas Intermediate (WTI) crude fell $1.30, or 1.6%, to $81.97. The Organisation of Petroleum Exporting Countries lowered its world oil demand ​growth forecast for 2026 to 580,000 barrels per day in its monthly ​oil market report on Wednesday.