Oil prices stabilized on Tuesday, maintaining their highest levels in over a week, amidst fading hopes for a US-Iran agreement to end the conflict and reopen the Strait of Hormuz. This development followed former US President Donald Trump's demand for
reparations for damages incurred by his country. By 04:33 GMT, Brent crude futures saw a marginal decline of 0.2% to $87.52 per barrel. In contrast, US West Texas Intermediate (WTI) crude futures remained stable at $82.01, registering a slight decrease
of 0.1%. Both benchmark crudes had surged over 5% on Monday, reaching their highest levels since July 31. This rise occurred after Trump responded to Iran's conditions for a deal by demanding reparations for those killed in wars, attacks, and
protests, a move likely to complicate efforts to reopen the Strait of Hormuz, according to Reuters.
