According to CoinMeta, and as reported by Reuters, oil prices fell on Thursday due to investors assessing weak global demand prospects and an increase in US crude oil inventories. Brent crude oil futures dropped by $1.54, or 1.7%, to $87.44 per barrel, while US West Texas Intermediate (WTI) crude oil fell by $1.61, or 1.9%, to $81.66 per barrel. US commercial crude oil inventories recorded the largest weekly increase since January 2023 last week, with inventories rising by 17.4 million barrels to 424.4 million barrels. The International Energy Agency (IEA) has lowered its global oil demand growth forecast for 2026 to 580,000 barrels per day, and expects consumption this year to shrink by 1.6 million barrels per day. Supply disruptions in the Middle East and Black Sea regions continue to support oil prices.