Doha: Oil prices held steady in early trade on Thursday as investors assessed the outlook for the US-Iran war and the security of shipping through the Strait of Hormuz. Brent crude futures for October delivery rose 25 cents, or 0.3%, to $91.87 a barrel, while US West Texas Intermediate (WTI) crude futures for September slipped 2 cents to $85.81 a barrel. The more active October WTI contract gained 14 cents, or 0.2%, to $84.53. Both benchmarks gained for a fourth straight session on Wednesday, settling at their highest since July 24.

According to Qatar News Agency, the steady oil prices reflect investor caution amid geopolitical tensions impacting the critical shipping route. The Strait of Hormuz is a vital channel for global oil supply, and any disruption could significantly affect oil prices. Despite the current stability, market analysts continue to monitor the situation closely, anticipating potential shifts based on developments in US-Iran relations and regional security dynamics.