US-Iran Talks Stall Crude Market Amid Inventory Gains

Crude oil futures have steadied following negotiations between the US and Iran that remain at an impasse. Washington has pushed back on conditions, leading to a stalemate in talks. The development comes as the American Petroleum Institute reported a second weekly gain in US commercial crude inventories.

The US is offering up to 40 million barrels of sour crude from its Texas oil reserve sites as crude benchmarks remain strong. This move aims to stabilize the market amid growing signs of more Middle East crude available, with the Brent/Dubai cash spread reaching its narrowest level in a month.