Brent Crude Stabilizes at $88 Amid Improved Supply Prospects and Disruptions

The price of Brent crude oil stabilized around $88 per barrel on Thursday after three consecutive days of losses. The market is weighing the improving supply prospects through the Strait of Hormuz against growing disruptions to Russian energy exports.

Iran's military has announced a revenue-sharing agreement with Oman over the strategic waterway, which may ease shipping disruptions. However, Tehran stressed that this arrangement does not guarantee an immediate reopening of the strait, keeping uncertainty high.

Saudi Arabia is increasing oil loadings from Persian Gulf terminals as it seeks alternatives to routes exposed to Houthi attacks in the Red Sea.