Oil prices stable, WTI crude nears $91

Oil drilling rigs

Oil prices were stable today, Aug. 9, as investors awaited the nuclear talks between the United States and Iran, and ahead of the release of the US Energy Information Administration's (EIA) report.

International benchmark Brent crude was trading at $96.68 per barrel, at 9:03 am Makkah time.

West Texas Intermediate (WTI) was at $90.81 a barrel.

"While the details around the timing of the resumption of Iran's oil exports remain uncertain even if the accord is revived, there is certainly scope for Iran to increase oil exports relatively quickly," Reuters reported, citing Commonwealth Bank analyst Vivek Dhar.

The EIA is scheduled to issue later today its short-term forecasts for the energy market, while OPEC and the International Energy Agency will publish their reports on Aug. 11.