U.S. crude oil maintains its stability above $74 per barrel despite a recent decline in sales.

• Soft demand in Asia is weighing on oil prices.
• The U.S. is still trying to clinch a cease-fire deal in Gaza.

On Tuesday, U.S. crude oil futures remained stable above $74 per barrel, despite a decline in the previous session due to concerns about demand in Asia and ongoing cease-fire discussions in the Middle East.

On Monday, Francisco Blanch, a commodity strategist at Bank of America, stated on CNBC's "Fast Money" that oil prices are mean reverting due to both increased supply and weaker demand.

"China's slowdown is causing an air pocket in oil trading, which is based on supply and demand fundamentals," Blanch stated.

This quarter, Brent has experienced a greater decline of 9.8% compared to the 8.7% drop in U.S. crude oil prices.

Here are Tuesday's energy prices:

• The September contract price for crude oil is $74.42 per barrel, a five-cent increase, or 0.07%. To date in the year, the US has seen a 3.87% rise in crude oil.
• The October contract price per barrel is $77.74, an increase of 8 cents or 0.12%. Year-to-date, the global benchmark is ahead by 0.92%.
• Gasoline prices have remained relatively stable at $2.26 per gallon in September, but year-to-date, there has been a 7.67% increase in gasoline prices.
• The September contract price for natural gas is $2.25 per thousand cubic feet, which represents an increase of more than 1 cent or 0.85%. Despite this, year-to-date gas prices have decreased by 10.2%.

Antony Blinken, the U.S. Secretary of State, is in the Middle East, pushing for a cease-fire deal in Gaza and the release of hostages held by Hamas. Blinken stated that Israeli Prime Minister Benjamin Netanyahu had agreed to a bridging proposal, and he urged Hamas to do the same.

According to The Wall Street Journal, Yahya Sinwar, the leader of Hamas, sees the latest cease-fire talks as a ploy to give Israel more time to wage war in Gaza. He plans to put pressure on Israel by launching attacks from the West Bank, the mediators revealed.

A suicide bombing in Tel Aviv on Sunday injured a bystander, and Hamas took responsibility for the attack.

As Iran has not yet responded to the assassination of a Hamas leader in Tehran in late July, oil prices have decreased. The U.S. hopes that a cease-fire agreement in Gaza can prevent a broader conflict in the region.

Amena Bakr, senior research at Energy Intel, stated on CNBC's "Capital Connection" Tuesday that the market is incorrectly assuming that this geopolitical risk has disappeared.