Crude Oil Prices Stable Amid Greenland Tensions, Supply Focus

• Crude oil prices stabilized as geopolitical tensions over Greenland eased and supply disruptions from Kazakhstan to Venezuela were monitored.
• West Texas Intermediate (WTI) remained above $60 a barrel, and Brent crude closed near $64.
• US President Donald Trump backed off imposing tariffs on Europe over Greenland, citing a potential agreement framework.
• The International Energy Agency (IEA) maintained its forecast for global supply to outpace demand this year, despite raising demand growth estimates.
• US nationwide oil stocks increased by 3 million barrels last week, according to the American Petroleum Institute (API).

Why It Matters: Oil prices stabilized due to easing Greenland tensions and ongoing focus on global supply dynamics.