Crude Prices Stabilize Amid US-Iran De-escalation Hopes, Brent Above $71

• Crude oil prices stabilized as hopes for de-escalation between the US and Iran emerged, with Brent crude remaining above $71.
• US President Donald Trump's statement prioritizing a nuclear deal with Iran ahead of scheduled talks contributed to the stability, though he warned of consequences if no agreement is reached.
• West Texas Intermediate traded near $66 per barrel, while Brent stayed below $72.
• Concerns about a potential US attack on Iran have driven futures higher this year, despite global oil glut expectations.
• The Strait of Hormuz remains a critical focus for the oil market, with recent Iranian military drills increasing supertanker rates to over $92,000 per day, the highest since 1988.