Oil prices were largely stable on Monday as the U.S. and Iran agreed to continue indirect talks, easing immediate fears of supply disruptions.
Brent crude edged up 0.1% to $68.11 a barrel, while U.S. West Texas Intermediate rose 0.1% to $63.60 by midday trading.
Both benchmarks had fallen last week, marking their first weekly decline in seven weeks amid easing geopolitical risks and a broader equity-led market selloff.
Analysts noted that risks linked to Iran remain unresolved, with U.S. naval deployments still keeping a residual geopolitical premium in oil prices.
Attention is also focused on Western moves to curb Russian oil revenues tied to its war in Ukraine, adding longer-term uncertainty to supply flows.
The European Commission has proposed a sweeping ban on services supporting Russia’s seaborne crude exports, tightening pressure on global trade routes.
Meanwhile, Indian refiners are avoiding Russian crude for April deliveries, a shift analysts say could become a structural bullish factor if sustained.
