This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for May delivery lost 20 cents to $61.33 on the New York Merc, while Brent for June lost 21 cents to $64.67 (all figures in this para U.S.). Western Canadian Select traded at a discount of $12.60 to WTI, down from a discount of $12.30. Natural gas for May was unchanged at $3.32. The TSX energy index added a fraction of a point to close at 232.58.

Oil prices tiptoed lower during a jittery session. In a closely watched monthly report, the International Energy Agency (IEA) slashed its 2025 global oil demand forecasts by roughly one-third, citing tariff tensions and a persistent supply glut that it expects to last into 2026. The Paris-based agency is now predicting that global oil demand will rise by just 730,000 barrels a day this year, a 300,000-barrel-a-day decrease from its prior estimate. The estimate for 2026 (the first provided by the IEA) sees a further slowdown to just 690,000 barrels a day. Although the IEA acknowledged "considerable uncertainties" in its forecasts given the "fragile macroeconomic environment," it felt confident in its advice to "buckle up ... oil markets are in for a bumpy ride."

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS