Crude oil prices held steady at around USD 73 per barrel after rising more than 5% in the previous session. The legal dispute that stopped about 400k barrels a day of oil exports from the Ceyhan port in Turkey tightened the market. The positive news surrounding the banking sector also supported the sentiment and expectations that the Fed would end its tightening campaign soon, and China’s demand recovery helped boost prices. However, growing fears of a US recession and resilient Russian supply have kept the US oil benchmark near its lowest levels since December 2021. According to Bloomberg, JPMorgan predicts that Brent will fall below USD 60 per barrel in the near term, according to Bloomberg.