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Oil Steady on Signs US, Iran Working Toward Ceasefire Extension

Charlie Zhu, Sarah Chen, Charles Gorrivan
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Oil prices stabilized as the U.S. and Iran signal potential progress toward extending a ceasefire, easing fears of prolonged conflict disrupting global energy supplies. West Texas Intermediate held near $91 per barrel, while Brent crude settled close to $95, reflecting cautious market optimism amid ongoing negotiations. A two-week ceasefire extension is under consideration to facilitate further peace talks, according to an unnamed source familiar with the discussions. The conflict has previously destabilized energy markets, making any diplomatic breakthrough a critical factor for traders monitoring supply risks. The temporary calm follows weeks of volatility, with analysts watching for concrete signs of a lasting agreement between Washington and Tehran.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000War With Iran:Oil steadied on signs the US and Iran may extend a ceasefire and restart talks to end the war that’s rocked energy markets.West Texas Intermediate was little changed near $91 a barrel, after global benchmark Brent settled near $95 on Wednesday. Washington and Tehran are considering a two-week ceasefire extension to allow more time to negotiate a peace deal, according to a person familiar with the matter.

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Source: Bloomberg

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