Oil stabilizes as investors assess developments in the US-Iran war and navigation security through the Strait of Hormuz

Oil prices stabilized at the start of Thursday’s trading session as investors assessed expectations regarding the conflict between the United States and Iran and the security of navigation through the Strait of Hormuz.

By 00:37 GMT, October 2025 Brent crude futures rose 25 cents, or 0.3 percent, to $91.87 per barrel, while September U.S. West Texas Intermediate (WTI) crude futures fell two cents to $85.81 per barrel.

The most actively traded U.S. crude contract for October delivery also rose, gaining 14 cents, or 0.2 percent, to $84.53 per barrel.

Both benchmark crude prices rose for a fourth consecutive day on Wednesday, reaching their highest settlement levels since July 24, as the September U.S. crude contract expires later on Thursday.

Hiroyuki Kikukawa, chief analyst at Nissan Securities Investment, said oil prices remained elevated, supported by sporadic attacks in the Middle East, but lacked new momentum amid the absence of significant escalation.

He added that the market is likely to maintain a gradual upward trend, given the uncertainty surrounding ceasefire talks and disruptions involving the UAE, Oman, and Iran.