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Crude oil prices hold steady amid Middle East supply worries and peace talks
Reported by Danish Ansari (Fact-Checker) · Livemint - Markets ·
Reported by one source so far
Representative image · PexelsOil prices held steady as traders watched supply risks in the Middle East alongside stepped-up diplomatic efforts to end the conflict. Brent crude traded near 104 dollars a barrel following a three-day price drop. West Texas Intermediate stayed below 100 dollars. Over the weekend, Saudi Arabia issued air-raid alerts for Riyadh. These were the first alerts in the capital since the peak of the conflict in March and April. The country also issued warnings in Red Sea hubs including Yanbu. The kingdom faces ongoing threats from Iran-backed Houthis in Yemen. Meanwhile, President Donald Trump stated in a Fox News interview that he would probably be open to talks.
ExplainerWhy this matters
What Happened
Crude oil markets stabilized after a recent price drop as traders monitored rising security tensions in the Middle East and diplomatic efforts.
Why It Matters
Middle Eastern supply risks directly impact global crude prices, affecting fuel costs and inflation worldwide.
What Happens Next
Traders will continue to watch diplomatic talks and regional security developments for any new impact on oil supplies.
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