Muscat: Oil prices steadied in Asian trade today after falling about 2% in the previous session as investors assessed progress in Iran-US talks. Brent futures rose 15 cents or 0.22% to $67.57 a barrel, while US West Texas Intermediate (WTI) crude was up 12 cents or 0.19% at $62.45. Both are around two-week lows.
According to Oman News Agency, the recent fluctuations in oil prices reflect ongoing market responses to geopolitical developments, particularly those related to the negotiations between Iran and the United States. Investors are closely monitoring these talks, given their potential impact on global oil supply and market stability.
The current price levels indicate a modest recovery from the losses experienced in the previous trading session. Market analysts suggest that the stabilization might be temporary, contingent upon further news from the negotiations and any subsequent changes in oil production or export activities.