Oil Prices Hold Steady on Stockpiles and Geopolitics
Oil prices settled with little change as investors weighed potential progress toward Russia-Ukraine peace talks against declining US crude stockpiles. Meanwhile, ongoing vessel attacks in the Middle East and persistent diesel shortages continued to influence market sentiment.
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Brent Crude Oil settled 3 cents higher at $108.82 a barrel on Wednesday, while West Texas Oil fell 67 cents to $97.15 amid fluctuating geopolitical tensions. Prices hovered below earlier multi-month highs as markets weighed potential peace talks against ongoing shipping disruptions. The session reflected competing pressures from diplomatic developments and tighter diesel markets.
