The oil market remained relatively stable during the Asian session on Thursday, as investors adopted a wait-and-see attitude ahead of the latest round of US-Iran nuclear talks. Brent futures traded near $71 per barrel, while WTI held steady at $65-66, demonstrating moderate momentum.

Diplomatic contacts in Geneva remain the main factor of uncertainty. Washington is seeking progress on Tehran's nuclear and missile programs, while Iran has stated its readiness for dialogue, subject to reciprocal steps. The market is weighing the likelihood of both de-escalation and increased sanctions pressure.

Analysts note that a geopolitical risk premium remains present in prices. If the talks are constructive, prices could gradually adjust downwards. If the dialogue proves fruitless, the risk of supply disruptions, particularly in the Strait of Hormuz, could support prices.

Additional pressure on the market came from data showing a sharp rise in US oil inventories. According to the EIA, commercial inventories increased by 16 million barrels in a week—the largest increase in approximately three years. This data signals a temporary imbalance in supply and demand, limiting the potential for price growth.