Oil flat as chances of US strike on Iran recedes
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Oil prices remained stable as the likelihood of a U.S. strike on Iran diminished. Brent crude fell by 3 cents to $63.73 per barrel, while U.S. West Texas Intermediate rose by 4 cents to $59.22 per barrel. This stability followed President Trump's comments on easing tensions in Iran and a report indicating a rise in U.S. crude and gasoline inventories. Additionally, Venezuela has started to reverse production cuts, and Shell projected a significant increase in energy demand by 2050.
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