{"id":63295,"date":"2026-06-17T04:38:12","date_gmt":"2026-06-17T08:38:12","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-update-iea-slashes-oil-demand-forecast-amid-iran-conflict-intel-eyes-apple-deal\/63295\/"},"modified":"2026-06-17T04:38:12","modified_gmt":"2026-06-17T08:38:12","slug":"global-markets-update-iea-slashes-oil-demand-forecast-amid-iran-conflict-intel-eyes-apple-deal","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-update-iea-slashes-oil-demand-forecast-amid-iran-conflict-intel-eyes-apple-deal\/63295\/","title":{"rendered":"Global Markets Update: IEA Slashes Oil Demand Forecast Amid Iran Conflict; Intel Eyes Apple Deal"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-update-iea-slashes-oil-demand-forecast-amid-iran-conflict-intel-eyes-apple-deal\/63295\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-update-iea-slashes-oil-demand-forecast-amid-iran-conflict-intel-eyes-apple-deal\/63295\/#Energy_Markets_IEA_Warns_of_Supply_Gaps_and_War_Fallout\" >Energy Markets: IEA Warns of Supply Gaps and War Fallout<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-update-iea-slashes-oil-demand-forecast-amid-iran-conflict-intel-eyes-apple-deal\/63295\/#Geopolitical_Tensions_Iran_and_UAE_Reshape_Regional_Security\" >Geopolitical Tensions: Iran and UAE Reshape Regional Security<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-update-iea-slashes-oil-demand-forecast-amid-iran-conflict-intel-eyes-apple-deal\/63295\/#Technology_Intels_Advanced_Manufacturing_Push\" >Technology: Intel\u2019s Advanced Manufacturing Push<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-update-iea-slashes-oil-demand-forecast-amid-iran-conflict-intel-eyes-apple-deal\/63295\/#Global_Economy_UK_Housing_and_South_African_Inflation\" >Global Economy: UK Housing and South African Inflation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-update-iea-slashes-oil-demand-forecast-amid-iran-conflict-intel-eyes-apple-deal\/63295\/#US_Politics_Trump_Reshuffles_Intelligence_and_Foreign_Policy\" >U.S. Politics: Trump Reshuffles Intelligence and Foreign Policy<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>IEA slashes 2026 oil demand forecast<\/strong> to a drop of <strong>1.1 million bpd<\/strong> (from 420,000 bpd) as the ongoing Iran war inflicts a deeper toll on global consumption.<\/li>\n<li><strong>Intel (<a href=\"\/stock\/INTC\">INTC<\/a>)<\/strong> begins production of its most advanced chip yet, signaling a potential breakthrough in securing a major supply deal with <strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>)<\/strong>.<\/li>\n<li><strong>Iran warns of military response<\/strong> against Israel if attacks in Lebanon do not cease, significantly escalating regional tensions and energy security risks.<\/li>\n<li><strong>UAE aims to bypass the Strait of Hormuz<\/strong>, moving to cut its dependency on the volatile chokepoint to &quot;zero&quot; through new strategic infrastructure.<\/li>\n<li><strong>UK house prices surge 3.8% Y\/Y in April<\/strong>, a sharp rebound from the 0.0% growth recorded in the previous month, indicating a strengthening property market.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Energy_Markets_IEA_Warns_of_Supply_Gaps_and_War_Fallout\"><\/span>Energy Markets: IEA Warns of Supply Gaps and War Fallout<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>International Energy Agency (IEA)<\/strong> has significantly revised its outlook for 2026, warning that the <strong>Iran war<\/strong> is suppressing global demand more than previously anticipated. The agency now expects world oil demand to fall by <strong>1.1 million bpd<\/strong> this year, nearly triple the previous forecast of a 420,000 bpd drop.<\/p>\n<p>Despite falling demand, the market remains tight with <strong>world oil supply expected to be 920,000 bpd lower than demand<\/strong> in 2026. The IEA noted that global stock draws have averaged <strong>3.8 million bpd<\/strong> over the last three months and could accelerate to <strong>4.6 million bpd<\/strong> if current trends persist.<\/p>\n<p>Looking further ahead to 2027, the IEA sees a potential &quot;significant overhang&quot; of over <strong>5 million bpd<\/strong>. This projection is based on an expected supply growth of <strong>8 million bpd<\/strong> against a modest demand increase of only <strong>2 million bpd<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Geopolitical_Tensions_Iran_and_UAE_Reshape_Regional_Security\"><\/span>Geopolitical Tensions: Iran and UAE Reshape Regional Security<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Middle East remains on edge as <strong>Iran&#39;s joint military command<\/strong> warned of a direct response if Israel does not halt its operations in Lebanon. This escalation follows reports from the IEA that operational and political constraints leave significant <strong>downside risks<\/strong> to the regional outlook, despite recent U.S.-Iran agreements.<\/p>\n<p>In a strategic shift, the <strong>United Arab Emirates (UAE)<\/strong> has announced plans to reduce its dependency on the <strong>Strait of Hormuz<\/strong> to &quot;zero.&quot; By utilizing alternative pipelines and ports, the UAE seeks to insulate its oil exports from the constant threat of maritime blockades in the narrow waterway.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Technology_Intels_Advanced_Manufacturing_Push\"><\/span>Technology: Intel\u2019s Advanced Manufacturing Push<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Intel (<a href=\"\/stock\/INTC\">INTC<\/a>)<\/strong> has officially commenced production of its most advanced semiconductor node. According to reports from CNBC, this milestone brings the company &quot;inching closer&quot; to a possible manufacturing deal with <strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>)<\/strong>, which would be a massive win for Intel&#39;s foundry services.<\/p>\n<p>The move is part of Intel&#39;s broader strategy to regain its lead in the fabrication space. Analysts suggest that securing a client like Apple would validate Intel&#39;s <strong>18A process technology<\/strong> and provide a significant boost to its long-term revenue projections.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Global_Economy_UK_Housing_and_South_African_Inflation\"><\/span>Global Economy: UK Housing and South African Inflation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the United Kingdom, the <strong>House Price Index<\/strong> rose by <strong>3.8% year-over-year in April<\/strong>, a major jump from the flat growth seen in March. This suggests that despite higher interest rates, buyer demand is returning to the British property market.<\/p>\n<p>Meanwhile, <strong>South Africa&#39;s CPI<\/strong> for May came in at <strong>4.5% Y\/Y<\/strong>, up from 4.0% in April. While headline inflation rose, <strong>Core CPI<\/strong> remained relatively stable at <strong>3.8%<\/strong>, suggesting that the central bank may have some breathing room regarding future rate hikes.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"US_Politics_Trump_Reshuffles_Intelligence_and_Foreign_Policy\"><\/span>U.S. Politics: Trump Reshuffles Intelligence and Foreign Policy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Former President <strong>Donald Trump<\/strong> has made several high-profile announcements regarding his administration&#39;s personnel and policy. Trump confirmed that <strong>Bill Pulte<\/strong> will remain as Acting Director of National Intelligence (DNI) and cancelled a scheduled Senate hearing for the position.<\/p>\n<p>Trump also stated he would not approve <strong>FISA reauthorization<\/strong> without the inclusion of the <strong>&quot;Save America Act.&quot;<\/strong> On the foreign policy front, Trump advisors told the <em>Financial Times<\/em> that the administration seeks to form a <strong>unified government in Libya<\/strong>, aiming to stabilize the North African nation&#39;s institutions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways IEA slashes 2026 oil demand forecast to a drop of 1.1 million bpd (from 420,000 bpd) as the 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