Brent crude futures advanced 38 cents, or 0.5%, to $72.37 a barrel in Tuesday trading, while US WTI crude rose 30 cents.
The modest gains reflect a shifting market narrative, as traders look past recent geopolitical headlines to assess the balance between growing production capacity and demand recovery.
The price action underscores a balancing act in the energy complex.
With supply constraints easing and demand signals stabilizing, the market is repricing based on fundamental dynamics rather than risk premiums.
This shift suggests that near-term volatility may be driven more by inventory data and production updates than by geopolitical friction.
This development follows a period of heightened uncertainty in global energy markets.