Global oil prices have stabilized following Trump's statements on a ceasefire — Reuters
On Wednesday, April 22, oil prices on global markets have remained relatively stable.
This is reported by Reuters.
After a morning spike of about $1, prices leveled off as investors began cautiously assessing the prospects for a diplomatic settlement between Washington and Tehran.
According to Reuters, futures for the benchmark Brent crude showed a symbolic increase of 0.02%, settling at $98.51 per barrel.
Meanwhile, U.S. West Texas Intermediate (WTI) crude oil edged down 0.14%, trading at $89.53.
Market volatility intensified amid reports that U.S. President Donald Trump had decided to extend the truce with Iran indefinitely.
This announcement came just hours before the expiration of the previous agreements, with the aim of giving further negotiations a chance.
The U.S. president emphasized that this step is necessary to prevent a large-scale military conflict, which has already caused serious damage to the global economy.
However, the White House’s decision appears unilateral, as the positions of Iran and Israel regarding the extension of the ceasefire remain unknown.
Analysts believe that the current price plateau will last only until clear signals emerge from the parties to the conflict.
Hiroyuki Kikukawa, chief strategist at Nissan Securities Investment, noted: “If hostilities do not resume, prices are likely to remain close to current levels for the time being.”
Energy prices do not reflect the full extent of the supply reduction, analysts note.
Oil prices fell sharply amid news about the U.S. and Iran
