Oil prices found stability following confirmation that tankers transporting more than 12 million barrels of crude successfully crossed the Strait of Hormuz. This key shipping route is crucial for global energy supplies, and the news helped ease recent market concerns.
According to FX Street, US Vice President JD Vance's comments verified the transit of these tankers, which contributed to calming price fluctuations. UOB Global Economics & Markets Research also noted the price stabilization after the confirmation of the tankers' passage.
Brent crude settled around $79.85 per barrel, while WTI traded near $76.60. For Japanese investors and traders, the development is particularly relevant given Japan's reliance on stable oil imports to support its energy needs and economic recovery efforts.