IEA Outlook Dampens IXC Gains as Oversupply Fears Return

The iShares Global Energy ETF (IXC) saw its net asset value fall 1.80% on Thursday, slipping to $49.65. The move comes as the International Energy Agency (IEA) released a report warning of a potential oversupply in the oil market. Despite the setback, the fund remains up 20.52% for the year so far.

• IEA forecast: 2026 demand growth trimmed to 850,000 barrels per day.
• Oversupply: non-OPEC+ production expected to rise by 2.4 million barrels per day.
• Inventories: US crude oil stocks rose by 8.5 million barrels.
• Performance: Year-to-date gain stands at 20.52%.

The IEA anchors its more cautious view on lingering economic uncertainty and persistent price pressure. While demand growth projections Read more...