Commodities
Oil Prices Steady as Traders Eye Shipping Flows
Oil prices remained steady on Friday (31 July) as traders assessed supply flows through key maritime chokepoints and developments in US-Iran talks.
Brent futures were up 47 cents, or 0.53%, at $89.50 a barrel by 0952 GMT, while US West Texas Intermediate (WTI) crude was up 4 cents, or 0.05%, to $83.63 a barrel.
The market has stopped trading the war and started trading shipping data, according to Ole Hvalbye, market analyst at SEB Research.
Talks between Iran and Oman on managing the Strait of Hormuz continue, despite Iran rejecting Oman's proposal for joint management of the waterway.