London: Global crude oil prices fell by more than $1 per barrel amid forecasts of weaker worldwide demand in 2026.
Brent crude dropped by $1.29, or 1.5%, to settle at $87.69 per barrel.
US West Texas Intermediate (WTI) crude declined by $1.30, or 1.6%, to $81.97 per barrel.
The decline was largely attributed to expectations of lower global oil demand in 2026.
Analysts said the US-Israel war against Iran could weaken international demand. However, concerns about supply disruptions caused by the conflict are limiting further declines in oil prices.
