Pakistan

WTI oil advanced after a decline in crude inventories, while Brent climbed above the $115.00 area as traders weighed the risk of renewed escalation in the Middle East. Natural gas remained above the $3.00 support zone as weather forecasts and the next EIA update stayed in focus.

Brent and WTI are easing as regional peace discussions reduce immediate concern over Middle East supply disruption. Technical traders are still watching $106 in WTI and $120 in Brent as levels that could reopen the path to higher crude prices.

Natural gas remained under pressure as mild weather forecasts reduced near-term demand expectations and kept buyers cautious. WTI and Brent oil eased from elevated levels as traders took profits while monitoring diplomatic efforts involving Saudi Arabia, Turkey, Pakistan, and Iran.

WTI and Brent recovered after a brief pullback tied to mediation headlines involving Iran, Pakistan, Saudi Arabia and the Houthis. Traders are watching Gulf supply risk, API inventory draws and key technical levels as the next government inventory report approaches.

Crude prices slipped Friday after reports of renewed diplomatic efforts involving Iran, Pakistan and China encouraged profit-taking. The move did little to erase the week’s surge, with WTI up 9.21% and Brent higher by 9.85% as shipping risks around Hormuz and the Red Sea remained elevated.