New Delhi, 07 May (H.S.): Amid expectations of reduced tensions in West Asia, crude oil prices are showing some stability in international markets. Currently, Brent crude is trading at $102 per barrel, while WTI crude hovers around $96 per barrel.
In early Thursday trading, Brent crude rose by $0.62, or 0.61%, trending near $101.90 per barrel. Meanwhile, US West Texas Intermediate (WTI) crude climbed $0.65, or 0.68%, to $95.73 per barrel. This follows a sharp prior decline of nearly 8% in both benchmarks.
Analysts attribute the softening in global oil prices to positive signals from US-Iran talks and expectations of improved supply. WTI remains the primary US benchmark in this context.
Notably, the price drop followed US President Donald Trump's announcement of a two-week halt to bombing Iran's power and civilian infrastructure. Trump stated that consensus has been reached on contentious issues with Iran.
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Hindusthan Samachar / Jun Sarkar
