05:14 AM EDT, 06/26/2025 (MT Newswires) -- Crude oil prices stabilized on Thursday as investors considered the Iran-Israel ceasefire with caution while refocusing on macroeconomics and oil balances.

Brent crude at last look was at US$67.71/barrel and West Texas Intermediate crude was at US$64.97/b.

Oil prices appeared to be following equity markets lower so far, Reuters said in a Thursday report, citing analysts.

Refining activity and demand rose in the U.S., leading to a decrease in crude oil and fuel inventories in the week ended June 20, data released Wednesday from the U.S. Energy Information Administration showed.

Meanwhile, the Organization of the Petroleum Exporting Countries and allied producers could bring forward its output hikes by roughly a year from its initial plan, according to Igor Sechin, the head of Russia's largest oil producer Rosneft.