14:59 ET - Crude futures post back-to-back losses after the IEA boosted its supply-growth estimates and cut its demand growth forecasts for this year and next. The report from the Paris-based agency follows the U.S. EIA's outlook which also sees much larger inventory builds in 4Q and early 2026, largely because of higher OPEC+ production. "This seems to be more based on the projections of President Trump's tariffs that will somehow slow the global economy but the stock market absolutely doesn't agree," Phil Flynn of the Price Futures Group says in a report. He notes that OPEC+ output increases have been smaller than announced because of compensation cuts. "It's worth taking all of this with a grain of salt until the barrels actually hit the market." WTI settles down 0.8% at $62.65 and Brent falls 0.7% to %65.63 a barrel. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
August 13, 2025 14:59 ET (18:59 GMT)
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