Global Oil Stability Oil prices stabilized on Friday as geopolitical risk premiums contracted following a de-escalation in tensions between the U.S. and Iran. The immediate threat of a direct military strike has receded, allowing markets to recalibrate away from recent supply-disruption fears. Downward pressure was reinforced by domestic data showing a rise in **U.S. crude and gasoline inventories**. This build-up suggests a softening in short-term demand or a surplus in production that is currently outpacing consumption rates. Supply dynamics are further shifting as **Venezuela** officially resumes oil exports to the global market. The reintroduction of Venezuelan barrels provides an additional cushion to global supply chains, contributing to the swift unwinding of the **'Iran premium'** previously baked into per-barrel pricing. Market participants are now weighing long-term outlooks provided by **OPEC** and **Shell**. These reports focus on the evolving balance between future energy demand and global production capacity as the industry navigates shifting macroeconomic conditions.