Independent Malaysian news, politics and national affairs.
Nations restocking depleted oil inventories following recent supply disruptions may provide ongoing price support, keeping crude above pre-conflict benchmarks, according to CIMB Securities analysis.
Oil markets found support on Friday as fresh complications emerged around the US-Iran peace negotiations, with Brent and WTI both posting gains despite broader weekly losses and lingering geopolitical tensions.
Oil prices tumbled more than 2% following a US-Iran ceasefire agreement that would reopen the Strait of Hormuz and ease sanctions on Iranian crude, signalling increased supply to global markets.