Oil futures opened lower this week as concerns about demand outweighed the risk premium surrounding Israel's anticipated response to Iran's missile attack. OPEC lowered its oil demand growth forecast for this year and next year by 100,000 b/d to 1.93 million b/d and 1.64 million b/d, respectively. Peter Cardillo, an analyst at Sparta Capital, said in a report that falling demand is worrying and indicates that oil prices will fall in the future. WTI crude oil is now down 2%, and Brent crude oil is down 1.8%.

Oil futures opened lower this week as concerns about demand outweighed the risk premium surrounding Israel's anticipated response to Iran's missile attack. OPEC lowered its oil demand growth forecast for this year and next year by 100,000 b/d to 1.93 million b/d and 1.64 million b/d, respectively. Peter Cardillo, an analyst at Sparta Capital, said in a report that falling demand is worrying and indicates that oil prices will fall in the future. WTI crude oil is now down 2%, and Brent crude oil is down 1.8%.