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Oil steadies near $98 amid Middle East flows
The article discusses the stabilization of oil prices following their recent increase amid uncertainty about the continuation of oil flows from the Middle East. Brent crude rose to approximately $98 per barrel, while West Texas Intermediate traded around $90. Meanwhile, oil flows from the region are approaching pre-war levels, although supplies have not yet fully recovered. This comes amid the failure of the United States and Iran to reach a permanent peace agreement to open the Strait of Hormuz, with tensions, military escalations, and attacks on pipelines and ships continuing. Goldman Sachs' forecasts suggest that oil exports from the Gulf have returned to 2025 levels, driven by declining U.S. inventories and volatile oil prices amid political and geopolitical uncertainty.
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