Oil finds a floor after three-day slide on geopolitical caution

WTI crude oil futures posted marginal gains near $65 per barrel during Asian trade on Thursday, snapping a three-day losing streak as markets turned cautious ahead of a third round of US?Iran nuclear talks in Geneva. Geopolitical risk lent some support amid concerns over military buildup in the Middle East and fresh US sanctions tied to Iran?s oil and weapons exports, alongside warnings of potential limited strikes if diplomacy fails. However, upside was restrained by a sharp rise in US crude inventories, with EIA data showing a 16-million-barrel build last week?the largest since February 2023. Adding to mixed sentiment, the dollar index slipped toward 97.5 as tariff uncertainty weighed on confidence, while MCX March crude oil futures eased 0.3% to Rs 5972 per barrel.

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