Oil prices fell as weaker demand signals from the International Energy Agency (global energy watchdog) and OPEC (oil producer group) outweighed support from continued deadlock in U.S.-Iran negotiations, Reuters reported. OPEC cut its 2026 global oil demand growth forecast by 200,000 barrels per day, and prediction market pricing now implies just a 3.9% chance of crude reaching a new all-time high by Sept. 30 and an 11.5% chance by Dec. 31. The shift suggests a more cautious view on a sharp oil rally, though traders are still watching U.S.-Iran talks, possible supply disruptions and comments from Mohammad Sanusi Barkindo and Fatih Birol for signs that could change the year-end outlook.