Oil steadies as investors weigh supply, possible US-Iran de-escalation

Adrian Bogdan

LONDON, Feb 3 : Oil prices steadied on Tuesday, after falling over 4 per cent in the previous session, as market participants considered the global supply outlook and the possibility of a de-escalation in U.S.-Iran tensions. Brent crude futures gained 17 cents to $66.47 per barrel by 1217 GMT, while U.S. West Texas Intermediate crude was at $62.38 a barrel, up 24 cents. Earlier in the session, Brent and WTI fell to $65.19 a barrel and $61.12 a barrel, respectively, both the lowest in a week.

Oil steadies as investors weigh supply, possible US-Iran de-escalation https://www.channelnewsasia.com/ - 03.02.2026 15:01

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Oil steadies as investors weigh supply, possible US-Iran de-escalation https://www.channelnewsasia.com/ - 03.02.2026 15:01