Oil prices were steady, with a slight decrease, as indicated by a report from the industry showing an increase in US crude inventories and ongoing geopolitical tensions. West Texas Intermediate was trading just under $67 per barrel after falling by 1% on Wednesday, while Brent crude was around $71 on Tuesday. The American Petroleum Institute reported a 4.6 million barrel increase in nationwide stockpiles last week, although there was a decrease in the key storage hub in Cushing, Oklahoma.

Geopolitical worries regarding Russia and Iran remained prominent. US President Donald Trump urged Iran to control the Houthis, attributing attacks from the Yemeni militia to Tehran. Furthermore, Trump had a discussion with Russian President Vladimir Putin primarily focused on the conflict in Ukraine, according to his interview with Fox News.

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