Global crude oil prices held firm on Thursday, trading largely unchanged from levels seen before the escalation in the Middle East.
The market pause followed reports that Qatar and Pakistan, acting as mediators, have observed "positive progress" in the latest round of indirect talks between the United States and Iran.
Brent crude and West Texas Intermediate (WTI) futures showed little volatility in the session, reflecting a market that has largely priced in the risk of a prolonged supply disruption.
The stability in energy prices comes after a period of heightened anxiety over potential shipping disruptions in the Strait of Hormuz, which had previously driven premiums higher.
The diplomatic developments mark a continuation of the easing tensions that began earlier in the week.
Global crude prices had declined on Monday following initial reports of diplomatic engagement, and extended those losses on Thursday as details of the Doha negotiations emerged.