Business

Oil Prices and Global Economy

Updated 2026-08-12 09:25 UTC 2 sources Negative

The International Energy Agency (IEA) forecasts a significant drop in global oil demand due to high prices and disruptions at the Strait of Hormuz, squeezing the economy.

Coverage timeline — 2 articles

CNBC

Hormuz closure squeezes global economy as oil demand destruction intensifies, IEA says

The IEA expects oil demand to fall by 1.6 million barrels a day in 2026 as high fuel prices and Strait of Hormuz disruptions weigh on consumption.

2026-08-12 08:31 UTC

MarketWatch

Can I claim 50% of my husband’s Social Security now — and switch to my higher benefit at 70?

“I would like to offer a piece of advice for women who are or have been married.”

2026-08-12 09:15 UTC