Oil prices are stable, the situation in the Middle East is tense and demand outlook is weak.

Oil prices were flat in early Asian trading. Antonio Di Giacomo of XS.com stated that the ongoing tension in the Middle East continues to be a focus of attention, but its impact on oil prices is limited. The senior market analyst indicated that despite the friction between the United States and Iran, and conflicting signals from recent diplomatic communications, the market is showing greater sensitivity to fundamental supply and demand factors. The analyst noted that the outlook for global oil consumption in 2026 has deteriorated, citing forecasts indicating that demand growth will be more moderate. Near-month WTI crude oil futures were trading flat at $62.85 per barrel, while near-month Brent crude oil futures were steady at $67.53 per barrel.