Oil Prices Steady Amid Geopolitical Tensions, Supply Concerns

• Oil prices stabilized with West Texas Intermediate above $60 and Brent near $64.
• Geopolitical tensions eased as US President Donald Trump held back on tariffs over Greenland, citing a potential agreement.
• The International Energy Agency maintained its forecast of global supply outpacing demand, despite a slight demand growth estimate increase.
• US crude stockpiles rose by 3 million barrels last week, according to the American Petroleum Institute.
• Supply issues persist with the Caspian Pipeline Consortium terminal restarting and Venezuelan supply re-entering the market; Reliance Industries Ltd. also purchased Russian crude.

Why It Matters: Oil prices stabilized due to easing Greenland tensions and ongoing supply-demand dynamics.