Oil prices fell on Thursday, snapping a three-day winning streak after data showed an unexpected build in U.S. crude stockpiles.
The IEA's forecast of a surplus petroleum production of up to eight million barrels per day by 2030 and the higher-for-longer Fed rate outlook also weighed on prices.
Benchmark Brent crude futures dipped 0.8 percent to $81.97 a barrel while WTI crude futures were down 0.9 percent at $77.77.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.