Energy Preview: WTI crude oil holds around $81 per barrel mark

WTI crude oil futures hold around $81 per barrel mark on Friday morning in Asia following a two day decline as investors continue to monitor Strait of Hormuz situation and hope for a positive closure on the same. The US reportedly claims that as much as 9 million barrels of oil per day is currently transiting the waterway, while the capacity of US forces to escort tankers continues to expand. Meanwhile, the IEA cut its global oil demand outlook this week, warning that prolonged conflict and elevated prices are increasingly weighing on consumption. OPEC also lowered its 2026 global oil demand growth forecast to 580,000 barrels per day, marking its fourth consecutive downward revision.

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