Brent Crude Stabilizes at $98 as Market Awaits Supply Recovery

Oil prices have settled around $98 per barrel after a peak of $104 earlier in the week. This fluctuation comes as investors assess supply recovery and ongoing peace negotiations in various regions.

The Brent crude price has stabilized near $98, while West Texas Intermediate (WTI) for November delivery saw a slight decline of 0.4% to settle at $90.07 per barrel on Thursday.

Analysts suggest that the fluctuations in oil prices are influenced by multiple factors, including geopolitical tensions and potential resolutions to conflicts impacting supply chains.

Market observers are keeping a close eye on developments related to discussions involving the United States and Iran, as well as other negotiations in the Middle East that could affect oil output.