Global oil prices stabilized near $108 per barrel as markets assessed ongoing geopolitical risks in the Middle East. While tensions remain high, investors are adjusting expectations as no further major disruptions to supply have been reported.

Energy analysts indicate that the Strait of Hormuz continues to be a key concern, as any escalation could again trigger sharp price spikes. However, improved coordination among oil-producing nations has helped maintain a degree of stability in global markets.

The stabilization of oil prices has provided temporary relief to global economies, though uncertainty remains high. Experts warn that prolonged tensions could still lead to volatility in the coming weeks.

Source : Reuters.