Oil Prices Stabilize Amid Ongoing US-Iran Conflict Talks

Oil prices stabilised on Wednesday after falling sharply over the previous two trading sessions, as investors assessed developments in diplomatic efforts to end the conflict between the United States and Iran.

The price of Brent crude futures rose 26 cents (0.33%) to $79.62 per barrel, while US West Texas Intermediate (WTI) crude gained 12 cents (0.16%) to $75.90 per barrel in early trading.

Market sentiment improved after Qatar said mediators were making progress toward ending the conflict, helping to ease concerns over disruptions to global oil supplies.

Tehran has denied US President Donald Trump’s claim that direct negotiations are already underway.