Oil Prices Stabilize Amid Rising Uncertainty Over Washington-Tehran Developments

Oil prices showed relative stability today, Friday, following significant declines recorded in the previous session. This comes amidst diminishing hopes for a quick de-escalation of geopolitical tensions in the Middle East region, particularly after Hezbollah rejected a new ceasefire in Lebanon. In trading, Brent crude futures fell by 21 cents to reach $95.24 per barrel, after a 2.84 percent drop in the previous settlement. Meanwhile, the price of US West Texas Intermediate (WTI) crude reached $92.94 per barrel, down by ten cents, following a 3.1 percent decline yesterday, Thursday.