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Crude oil futures end lower on Thursday

13 Feb 2026 Evaluate

Crude oil futures ended lower on Thursday as the demand forecast by the International Energy Agency (IEA) for 2026 indicating overwhelming supply prompted investors to sell. The Paris-based IEA projected that global oil supply would exceed demand by 3.73 million barrels per day in 2026 (equivalent to nearly 4% of global demand). These numbers are almost the same as their previous forecast. Pointing to the escalation in geopolitical tensions, extreme cold in North America, and delayed output from Kazakhstan, the agency lowered its outlook for oil demand growth to 850,000 barrels per day, down from its previous forecast by 80,000 bpd.

Benchmark crude oil futures for March delivery fell $1.79 or 2.77% to settle at $62.84 a barrel on the New York Mercantile Exchange. Brent crude for April delivery decreased $1.88 or 2.71% to settle at $67.52 a barrel on London's Intercontinental Exchange.


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