Oil prices remain relatively stable, trading in a narrow range as markets assess continued supply pressures amid changing demand trends. Analysts say excess production from major exporters continues to hold back, with Brent crude expected to average in the upper end of the $60 a barrel range this year, while U.S. crude is expected to average in the middle of the $60 range.

In Asia, oil imports rose sharply in August, exceeding 27 million bpd, up from less than 25 million in July. Analysts said the rise largely reflects opportunistic buying amid lower prices earlier, rather than a clear sign of a sustained increase in consumption.

At the same time, decisions to extend the life of nuclear power plants in Europe underscore the changing balance in the global energy sector, which could gradually transform long-term oil demand over time.