Crude oil futures closed slightly higher on Thursday, with contracts trading around pre-conflict levels as market participants closely monitored developments in US-Iran negotiations.
The modest gain reflects a cautious stance among investors, who are balancing hopes for diplomatic progress against ongoing geopolitical risks in the Middle East.
Brent crude and West Texas Intermediate (WTI) both posted small gains in the session, though prices remain anchored near levels seen before recent escalations.
The limited upside suggests that while immediate supply disruption fears have eased, the market remains sensitive to any signs of renewed tension or shipping delays in key chokepoints.
The Strait of Hormuz continues to be a focal point for risk assessment.
Recent reports indicated that shipping through the strait had slowed during earlier phases of diplomatic talks, which were described as having a bumpy start under an interim peace deal.