WTI crude slips as OPEC and IEA demand concerns offset Middle East supply risks
WTI traded around $80.50 per barrel, down 1.35%, as markets weighed weaker OPEC and IEA demand forecasts against Middle East supply disruptions.
West Texas Intermediate crude was modestly lower on Thursday, trading around $80.50 per barrel and down 1.35%. The move came as markets weighed weaker demand forecasts from OPEC and the International Energy Agency against supply disruptions in the Middle East.
Technical momentum turned flat while Bollinger Bands expanded, suggesting reduced directional conviction despite the day’s decline.
Traders are balancing demand-side concerns with geopolitical supply risks, leaving near-term direction uncertain.
Source: FXStreet Forex News