Oil prices stabilize after mixed signals from Washington and Tehran ease immediate supply disruption fears.
West Texas Intermediate crude trades around $71.75, nearly flat on the day, as investors weigh conflicting geopolitical signals. The US and Iran exchanged strikes earlier this week, lifting oil prices before Thursday’s remarks from President Trump suggesting a potential de-escalation.
Prices rallied midweek after the US targeted Iranian assets, but retreated following reports that Iran sought negotiations. OPEC+’s decision to raise production targets further pressured the market, offsetting inventory concerns after the EIA reported a larger-than-expected build of 2.998 million barrels.
Traders remain cautious, awaiting clearer direction on Middle East tensions and supply adjustments.