Global oil prices hold steady as Middle East tensions cool and India reduces Russian crude intake
Oil prices held steady Monday as U.S. and Iran talks eased supply fears. India's shift away from Russian crude imports provided a floor for the market.
The United States 
US and Iran 
IR have pledged to continue indirect talks, a development that has eased near-term concerns regarding potential supply disruptions in the Middle East and helped stabilize prices in the global oil market. This commitment to ongoing dialogue has reduced the immediate risk premium associated with the region, specifically regarding the Strait of Hormuz, a critical waterway through which approximately one-fifth of total global oil consumption passes.
US and Iran IR have pledged to continue indirect talks, a development that has eased near-term concerns regarding potential supply disruptions in the Middle East and helped stabilize prices in the global oil market. This commitment to ongoing dialogue has reduced the immediate risk premium associated with the region, specifically regarding the Strait of Hormuz, a critical waterway through which approximately one-fifth of total global oil consumption passes.
