Oil prices may be starting to come down for a worrisome reason

[riversedge]

Oil prices may be starting to come down for a worrisome reason

The largest oil shock in history caused prices to surge. Now they're so high that they may be causing "demand destruction." That would mean slower economic growth.

https://www.nbcnews.com/business/markets/oil-prices-may-starting-come-worrisome-reason-rcna331690?utm_source=firefox-newtab-en-us



April 14, 2026, 11:01 AM CDT
By Rob Wile

Oil prices have started to slip — but not necessarily for reasons that suggest a return to market normalcy.

The International Energy Agency said Tuesday that “demand destruction” has begun to unfold. As a result of the acute energy commodity shortages stemming from the closure of the Strait of Hormuz, oil appears to have reached a point where it is now so expensive that overseas businesses and households have begun curbing investment and consumption.

Countries in Asia, Europe and even other parts of the Middle East that depend on supplies passing through the strait have begun curtailing their use of natural gas, seen waves of flight cancellations and implemented policies to reduce overall fuel use, the agency noted in the report.

It’s a phenomenon likely to affect global economic growth. And while it does not yet appear to be affecting the U.S. economy, any impact would threaten to destabilize an already fragile labor market. ..................