Market sentiment remains elevated as traders await clarity on a potential US-Iran agreement to ease supply constraints.
Oil prices stabilized near $100 per barrel as investors monitor developments in US-Iran negotiations. The potential deal could end sanctions and reopen the Strait of Hormuz, a critical chokepoint for global oil shipments.
Recent trading sessions saw prices fluctuate within a tight range, reflecting uncertainty over the deal’s timeline and impact. A successful agreement could significantly boost supply, while delays may sustain upward pressure on prices.
Market participants remain cautious, balancing geopolitical risks against potential supply increases. No immediate price reaction was reported in early trading.