Crude oil futures settled higher on Friday after a report from the International Energy Agency (IEA) forecast strong demand for oil and tightening supplies in the market.
In a report released today, the IEA said global oil demand hit a record 103 million barrels per day in June and added that demand could scale another peak this month.
The IEA also said output cuts from Russia and Saudi Arabia could result in a sharp decline in inventories over the rest of this year and lift oil prices even higher.
For comments and feedback contact: editorial@rttnews.com
Market Analysis
September 04, 2026 15:08 ET The job report and foreign trade data were the main economic news from the U.S. in the first week of September. Elsewhere in North America, the Canadian central bank announced its latest policy decision. Inflation data from Eurozone was the highlight in Europe. The latest interest rate decision by the Reserve Bank of New Zealand drew attention in Asia.