Oil prices were slightly lower on Wednesday after three days of strong gains.
Brent crude futures for July delivery slipped 0.3 percent to $107.46 a barrel while WTI crude futures for June delivery were down 0.6 percent at $101.58.
Traders booked some profits at higher levels after the International Energy Agency (IEA) released its monthly oil market report.
The IEA said global crude oil supply will plunge below demand this year due to ongoing U.S.-Iran war.
For comments and feedback contact: editorial@rttnews.com
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.