Oil Prices Steady Amid US-Iran Conflict Uncertainty

Oil prices remained relatively stable in early trade as investors assessed the outlook for the US-Iran conflict and its impact on global energy markets.

The Brent crude futures contract for October delivery rose by 25 cents, or 0.3%, to $91.87 a barrel at 0037 GMT, while the US West Texas Intermediate (WTI) crude futures contract for September slipped 2 cents to $85.81 a barrel.

However, the more active October WTI contract gained 14 cents, or 0.2%, to $84.53.

The Brent and WTI benchmarks have now risen for four consecutive sessions, reaching their highest levels since July 24.

Nissan Securities Investment's chief strategist, Hiroyuki Kikukawa, attributed the market's stability to sporadic attacks in the Middle East, but noted that prices lack fresh momentum without a major escalation.