Oil prices stabilized to close a turbulent trading week, positioning themselves for the largest monthly increase since March. This stabilization comes amidst escalating tensions between the United States and Iran, a situation that has significantly influenced market dynamics.

Throughout the week, oil experienced considerable volatility, reflecting the geopolitical uncertainties. The conflict between the US and Iran has become a central factor, driving price fluctuations and contributing to the upward trend observed over the month. Traders and analysts are closely monitoring developments in the region for further market direction.

The anticipated monthly gain, the largest since March, underscores the market's sensitivity to geopolitical events. As July concludes, the oil market remains on edge, with the US-Iran situation posing a persistent influence on supply and demand expectations and, consequently, on price levels.