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Commodities

Middle East Peace Talks Cap WTI Crude Gains Amid OPEC+ Expansion

Guavy AI Editorial Team
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Oil
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West Texas Intermediate (WTI) crude oil futures are holding near $79.00 per barrel as investors weigh the potential for de-escalation in the Middle East against increased supply from OPEC+.

The ongoing diplomatic efforts to broker a ceasefire have reduced the geopolitical risk premium that previously supported oil prices, according to market participants.

OPEC+ has signaled plans to gradually unwind voluntary production cuts, adding to expectations of a looser global oil balance in the coming months.

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