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Global oil prices steady near $86 per barrel amid demand optimism, supply vigilance
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Oil held near $86 a barrel as Asian demand stayed strong and OPEC discipline contained supply, keeping prices range-bound amid improving global trade and rupee stability.
Brent crude traded around $86.1 a barrel on October 23 2025 as markets balanced optimism over robust demand in Asia with concerns of renewed OPEC supply management. U.S. inventories fell by 3.4 million barrels last week, signaling resilient consumption. Traders noted India’s import bill easing as the rupee stabilized. Analysts expect crude to stay range-bound between $82 – $88 in the near term, with global growth and shipping-route disruptions the main swing factors.