Oil prices steady as investors weigh US-Iran tensions

Oil prices remained stable at the start of trading on Wednesday, as investors continued to assess the outlook amid ongoing tensions between the United States and Iran, as well as developments regarding maritime security in the Strait of Hormuz.

Brent crude futures rose by 25 cents, or 0.3%, to $91.87 per barrel.

Meanwhile, US West Texas Intermediate (WTI) futures slipped to $85.81 per barrel, while another US crude contract edged up by 14 cents, or 0.2%, to $84.53 per barrel.

This comes as global markets remain cautious over the potential impact of geopolitical tensions on worldwide energy supplies.