Oil steadied after falling more than 6% over the previous three sessions on signs the Israel-Hamas war will remain contained for the time being.

West Texas Intermediate traded below $84 a barrel, and has now given up the bulk of its gains since Hamas’s attack on Oct. 7, while global benchmark Brent crude was near $88. The US and Saudi Arabia agreed to pursue diplomatic efforts to maintain stability across the Middle East, the White House said Tuesday, helping to ease fears of major disruptions to the oil market.