Oil Prices Steady as Middle East Ceasefire Hopes Boost Global Markets

Global oil markets have shown stability amid reports of a possible lasting ceasefire in the Middle East, with prices maintaining an upward but steady trend.

US crude oil prices recorded a slight increase of 0.45 percent, remaining around $91 per barrel. Meanwhile, Brent crude rose by 1 percent and is trading at approximately $95 per barrel.

In Asian markets, a positive trend also continued as investor sentiment improved. South Korea’s main stock index rose by 2.96 percent, Hong Kong’s market gained 1.76 percent, and Japan’s benchmark index increased by 0.8 percent.

Analysts say the improved market performance reflects optimism over potential regional stability and reduced geopolitical risk in global energy supply chains.