Brent crude fell below $105 a barrel on Friday, in what was likely a technical correction, but remained on course for a sharp weekly increase as escalating US-Iran tensions heightened concerns about a prolonged disruption to global energy supplies. US officials have reportedly warned President Donald Trump that the conflict could continue through the remainder of his term, while Iranian leaders appear determined to keep fighting despite rising economic costs. Tehran has claimed it restored its missile capabilities and could intensify attacks on US and Gulf targets if Washington escalates. OPEC cut its forecast for global oil demand growth in 2026 to 380,000 barrels a day, its fifth consecutive downward revision, while the group’s output declined by 640,000 barrels a day in August. The IEA also lowered its forecast for Russian crude production by 125,000 barrels a day to 8.7 million barrels a day in 2026, citing continued Ukrainian attacks on energy infrastructure.