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The Economic Times

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

Oil prices dipped as demand forecasts for 2026 were lowered due to the U.S.-Israeli war on Iran. Despite supply concerns from the conflict, a surprise build in U.S. crude inventories and stalled talks with Iran are impacting the market, with shipping risks in key straits adding to volatility.

13 Aug 2026 7:31 am