Oil Prices Stabilize Amid Easing Middle East Supply Concerns

International oil prices steadied after a four-day decline of over 9% as concerns about Middle East crude supplies eased.

Saudi Arabia's increased shipments from the Persian Gulf and potential diplomatic resolution between the US and Iran contributed to this stabilization, according to recent data and reports.

However, uncertainty remains regarding global oil supply due to prospects of an extended Russian diesel export ban and lower output at Libya's Sharara field.