WTI Crude Oil futures stabilized following session reversal.

WTI Crude Oil futures found stability during Friday's session, with the March contract trading near the 59.40 level. This leveling in price action follows a significant reversal in the previous session, which interrupted a five-day rally that had pushed prices to multi-month highs. The primary driver for the current volatility remains geopolitical tensions in the Middle East and the resulting impact on global pricing structures. On the supply side, the latest Baker Hughes rig count showed a modest shift in U.S. domestic activity. The oil rig count increased by one week-over-week, while gas rigs declined by two, resulting in a total net decrease of one rig. As the market continues to digest global news items, participants are closely monitoring both local supply metrics and international developments for direction.