According to CoinMeta, on August 13th, the price of WTI crude oil fell by 1.3% due to a surge in US inventories, reaching $82.19 per barrel, while Brent crude oil fell by 1.16% to $87.95. US commercial crude oil inventories increased by 17.4 million barrels to 424.4 million barrels, marking the largest weekly increase since January 2023, as analysts had expected a decrease of 1.4 million barrels. OPEC has lowered its forecast for global oil demand growth in 2026 to 580,000 barrels per day, while the International Energy Agency predicts that global oil demand will shrink by 1.6 million barrels per day in 2026. Despite weak demand, geopolitical risks continue to support oil prices, and the situation in the Strait of Hormuz remains tense.