The International Energy Agency (IEA) slashed its global Oil demand forecast for the first time since October, attributing economic lull in Asia as one of the major causes for the downgrade. Key highlights: “¢ Fuel consumption in China, Japan and Brazil disappointed in Q1. “¢ Expects stockpiles to plunge as demand picks up this quarter. “¢ And as US sanctions squeeze production in Iran. The outlook did little to improve the already weaker trading sentiment around Oil prices, which is now down around 1% for the day on the back of a surprise build in inventories from the API data overnight. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD lost its upside momentum and may extend its falls Yohay Elam 4 years The International Energy Agency (IEA) slashed its global Oil demand forecast for the first time since October, attributing economic lull in Asia as one of the major causes for the downgrade. Key highlights: "¢ Fuel consumption in China, Japan and Brazil disappointed in Q1. "¢ Expects stockpiles to plunge as demand picks up this quarter. "¢ And as US sanctions squeeze production in Iran. The outlook did little to improve the already weaker trading sentiment around Oil prices, which is now down around 1% for the day on the back of a surprise build… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
