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The Japanese Yen (JPY) is one of the best performers in an unusually low-volatility market on Wednesday, picking up to levels near 159.00 against the US Dollar, after hitting support in the 159.45 area.
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The IEA expects oil demand to fall by 1.6 million barrels a day in 2026 as high fuel prices and Strait of Hormuz disruptions weigh on consumption.
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The number of ships that have transited the Strait of Hormuz dropped to a week-low on Tuesday, according to shipping data, as vessel owners continue to avoid the key chokepoint in the Middle East.
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