Muscat: Oil prices were little changed in early trading today, pausing after strong gains in the previous session. The market is caught between geopolitical supply concerns and anticipation of a key U.S. interest rate decision. Brent crude futures were virtually flat, dipping just 1 cent to $68.46 a barrel. U.S. West Texas Intermediate (WTI) crude futures mirrored the movement, also edging down 1 cent to $64.51 a barrel.
According to Oman News Agency, the steady trading follows a rise of over 1% on Tuesday, driven by drone attacks on key Russian oil infrastructure, which stoked fears of potential supply disruptions. This bullish factor is now being balanced by a cautious stance among traders, who are awaiting an expected interest rate cut from the U.S. Federal Reserve, a move that could influence future oil demand.