Oil Futures Steady as U.S. and Iran Plan Talks on Middle East Ceasefire

Oil futures prices remained relatively stable as traders prepared for the weekend, with upcoming talks between the United States and Iran potentially influencing the continuation of the Middle East ceasefire. According to Odaily, Scott Shelton from TP ICAP noted that traders have largely exited the market, with recent price fluctuations occurring with minimal human trader involvement. These movements were primarily driven by necessary hedging or position adjustments to further reduce risk exposure. Shelton added that the weekend discussions might provide clarity on whether the differences between Iran and the U.S. are too significant to reach an agreement.