Oil prices held within a relatively stable range on Sunday as subdued weekend trading kept markets quiet, while investors looked ahead to potential shifts in supply and demand that could steer prices in the coming days.
Global benchmark Brent crude traded between about $94 and $96 per barrel in the latest indicative readings, with markets largely inactive due to the weekend.
Brent had settled at around $94.9 per barrel in its last trading session, while near-real-time updates suggested prices fluctuating in a slightly wider band of $95 to $98, reflecting what analysts describe as cautious stability.
Market participants are closely monitoring the prospect of new production decisions, alongside evolving global demand trends, both of which are expected to shape price direction in the week ahead.
The current stability in oil prices may temporarily ease pressure on fuel and transportation costs. However, traders warn that any sudden upward movement at the start of this week could gradually feed into higher living costs, particularly in import-dependent economies.
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