Reported 2 months ago
Oil prices stabilized after a significant increase, as markets remain cautious about potential Iranian retaliation against Israel over recent assassinations of Hamas and Hezbollah leaders. Brent futures are trading near $79 a barrel, while West Texas Intermediate is above $75. Though geopolitical tensions are heightened, comments from Iran's president suggest a possible diplomatic resolution. However, supply risks persist, particularly with a halt in Libyan oil production, while U.S. crude stockpiles have reached their lowest levels since February.
Source: YAHOO