Oil prices fall amid demand concerns and Middle East supply disruptions
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Discrepancy in the status of the Strait of Hormuz blockade.
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International Energy Agency (IEA)
Middle East / Global
August 13, 2026
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COMPAMIR Editorial Team
The COMPAMIR editorial team brings together public reporting and links to the original coverage. We update the page as new information emerges.
Read our editorial policy- Earlier version 18/13/2026, 3:13:50 PM
Oil prices fell as investors weighed waning global demand against supply disruptions. The IEA reported that global oil demand is expected to fall further due to the closure of the Strait of Hormuz. Security concerns persist in the Middle East following attacks on vessels and a major oil spill near Oman.
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Global oil supply is expected to fall by 4.3 million barrels per day this year. Supply deficit is widening due to hostilities in the Middle East and Strait of Hormuz disruptions. IEA forecasts a supply deficit of 1.8 million bpd for July-September.