Oil prices hold steady amid Middle East tensions and OPEC+ cuts; US production near record highs.

Oil prices remain supported by geopolitical risks in the Strait of Hormuz and ongoing OPEC+ production cuts extended through early next year. US oil production stays high at nearly 13.5 million barrels per day, balancing tighter supply signaled by a 6.2 million-barrel inventory drop. Brent crude is sensitive to Middle East shipping lane risks, while WTI is influenced by strong US output. Natural gas faces bearish pressure due to robust US production and mild spring weather, though summer demand could tighten the market. Investors watch for price moves with WTI potentially rising to $109 and Brent testing $114 resistance levels.