LONDON—Oil prices stabilized on Wednesday after the previous day’s strong gains as investors monitored Red Sea developments, with some major shippers resuming passage through the trade route despite continued attacks and broader Middle East tensions.
Brent crude futures was down 17 cents, or 0.21 percent, at $80.90 a barrel by 0940 GMT. U.S. West Texas Intermediate crude eased by 34 cents, or 0.45 percent, to $75.23 a barrel.
