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Oil prices stable amid Hormuz talks
Global oil prices have temporarily stabilized as investors await the results of negotiations to reopen the Strait of Hormuz for shipping traffic. Expectations suggest that an agreement ensuring free passage is imminent. Brent crude slightly declined to $82.13 per barrel, while West Texas Intermediate fell to $77.25, after losing about 9% over the week due to political instability and supply concerns. Negotiations continue regarding the regulation of vessel passage through the strait, but Iranian reports have confirmed a draft law imposing restrictions on the transit of American and Israeli ships, complicating the shipping situation and raising additional fears.
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