Key facts
- Oil prices steadied after an initial decline this week.
- Optimism surrounding peace talks is supporting oil prices.
- Brent crude for August delivery added 0.4% to $95.36 a barrel.
Oil prices steadied, marking a pause in the week's trend after experiencing an initial decline. Brent crude for August delivery added 0.4% to $95.36 a barrel at 11:49 a.m. in Singapore. The stabilization is attributed to growing optimism surrounding ongoing peace talks, suggesting that diplomatic efforts are beginning to influence market sentiment in the energy sector.