Muscat: Oil prices held steady in early trade today as investors assessed the outlook for the US-Iran war and the security of shipping through the Strait of Hormuz. Brent crude futures for October delivery rose 25 cents, or 0.3%, to $91.87 a barrel, while US West Texas Intermediate (WTI) crude futures for September slipped 2 cents to $85.81 a barrel. The more active October WTI contract gained 14 cents, or 0.2%, to $84.53. Both benchmarks gained for a fourth straight session on Wednesday, settling at their highest since 24 July.

According to Oman News Agency, the stability in oil prices comes amid ongoing concerns about geopolitical tensions in the Middle East, particularly the potential impact on global oil supplies. The Strait of Hormuz, a crucial chokepoint through which a significant portion of the world's oil passes, has been a focal point for investors and analysts alike. Any disruptions in this vital shipping route could have significant implications for global oil markets.

Investors are closely monitoring developments in the region as any escalation could lead to supply disruptions, thereby affecting prices. The recent fluctuations in oil prices reflect the market's sensitivity to geopolitical events and the strategic importance of the Strait of Hormuz in global trade.