Oil prices in Asia showed signs of stabilization on Wednesday morning after recent sharp fluctuations triggered by the outbreak of war in Iran. West Texas Intermediate crude traded at 83.35 dollars per barrel, while Brent crude stood at around 87.88 dollars. Earlier this week, prices had surged to nearly 120 dollars per barrel before easing slightly, though they remain significantly higher than before the conflict began.

The International Energy Agency’s member countries are reportedly discussing a possible plan to release oil reserves to curb prices, but no decision has yet been made. The recent volatility has been linked to regional tensions and disruptions in oil supply routes.

The situation continues to evolve as global markets monitor developments in the Middle East, with energy-importing nations assessing potential impacts on supply stability and pricing trends.