Oil Starting to See Demand Destruction, Rystad Energy Says

Demand destruction has begun in the global oil market as the Iran war weighs on consumption and price stability. Rystad Energy also flagged the potential for additional supply to enter the market if prices stay elevated, which could cap further upside in crude. The remarks point to heightened volatility for energy markets and broader risk-off implications if geopolitical tensions persist.

Analysis

Demand destruction has begun in the global oil market as the Iran war weighs on consumption and price stability. Rystad Energy also flagged the potential for additional supply to enter the market if prices stay elevated, which could cap further upside in crude. The remarks point to heightened volatility for energy markets and broader risk-off implications if geopolitical tensions persist.