Reported 2 months ago
Oil prices have steadied after a market recovery, trading above $76 a barrel for Brent and near $73 for West Texas Intermediate, as investors monitor tensions in the Middle East, particularly any potential retaliatory actions from Iran against Israel. While market sentiment has stabilized, worries persist over demand drops in China and the US, along with possible increases in supply from OPEC+. Analysts highlight the uncertainty in the oil market, citing a lack of a significant risk premium despite escalating geopolitical tensions.
Source: YAHOO