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Oil Prices Hold Steady Above $90 Amid Middle East Supply Rebound

Guavy AI Editorial Team
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Oil
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Oil prices held above $90 per barrel on Thursday as markets weighed signs of rebounding Middle East oil shipments against an unresolved diplomatic deadlock between Washington and Tehran.

The price of crude has been supported by regional exports approaching pre-conflict levels, with Saudi Arabia successfully restoring half the operating capacity of its critical East-West pipeline.

Maritime transit volumes through the Strait of Hormuz recovered to 13.2 million barrels per day, but market sentiment remains cautious due to the lack of a formal peace accord to end the war with Iran.

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