Oil prices remain steady as traders monitor two key situations: the US-China trade tensions and US-Iran diplomatic talks.
Brent crude trades near $67 after China announced plans to support exporters affected by US tariffs while maintaining confidence in reaching its 5% economic growth target.
The oil market faces its worst monthly performance since 2022 due to fears that trade disputes will hurt demand, compounded by OPEC+ increasing production.
Upcoming US economic data and oil company earnings reports could provide direction for the market, while progress in US-Iran nuclear talks continues despite a deadly explosion at a strategic Iranian port.