Oil steadied after its first decline this week, as optimism over US-Iran peace talks weighed against uncertainty surrounding a ceasefire deal between Israel and Lebanon.
Oil fell following three days of gains after Israel and Lebanon agreed to a ceasefire if Hezbollah also stops hostilities, which would remove a key sticking point in talks to end the Iran war.
Nigeria will begin its next oil licensing round in the third quarter after securing the necessary government approvals, a move that could help attract investment into one of Africa’s largest oil-producing nations.
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