International crude oil prices remained largely stable on Tuesday morning as traders assessed the possible effects of tougher US sanctions on Iran. Brent crude futures fell by 9 cents, or 0.1%, to $92.16 a barrel, while US West Texas Intermediate crude rose by 1 cent to $85.02 a barrel.
The relative stability followed a sharp decline in global oil prices on Monday. After two consecutive weeks of gains in the oil market, investors took profits, pushing US crude to its lowest level in a week.
The market is now showing signs of recovering from Monday’s setback. Trading activity remains focused on evaluating how potential US measures against Iran could affect the international crude oil market.