Crude oil steady as US-Iran talks and supply surplus shape market

Crude oil steady as US-Iran talks and supply surplus shape market

Crude oil prices on February 16, stayed near 63 dollars per barrel, showing minor daily change but monthly rise. Prices remain lower than last year due to strong supply and slower demand growth. Global tensions involving US, Iran, Russia and Ukraine continue to influence markets, but expectations of surplus production and possible OPEC+ output increases are limiting price gains worldwide.

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