Oil prices tumble more than $1 as IEA demand cut hits Brent, WTI and stocks build
NEW YORK, Feb 12, 2026, 12:23 EST — Regular session Oil slid sharply Thursday, dropping more than $1 a barrel as the International Energy Agency pared its demand growth outlook for 2026 and signs emerged that the threat of a U.S. strike on Iran might be fading. Brent crude shed $1.26, or 1.8%, to trade at $68.14 a barrel as of 10:16 a.m. CDT. U.S. West Texas Intermediate slipped $1.24, or 1.9%, to $63.39. “It just ran out of steam,” said Phil Flynn, senior analyst at Price Futures Group.