Oil markets hold steady during US-Iran peace negotiations
Oil prices were flat Wednesday as investors weighed a US-Iran ceasefire extension. Markets await inventory data while the Strait of Hormuz remains closed.
Xurve View
Insights:
Xurve View
Global energy markets saw little movement on Wednesday as investors processed the latest diplomatic developments between major powers. Brent Crude Oil futures rose by a marginal 0.02% to $98.51 per barrel, while West Texas Oil slipped 0.14% to trade at $89.53. These fluctuations follow a volatile start to the week where both benchmarks surged by roughly 3% during the previous trading session.
