US EditionOil Prices Near 7-Month Highs on Elevated Iran Tensions
Oil prices rose on Middle East tensions and higher shipping costs, with tanker rates up 55% this year, reflecting supply risks amid resumed U.S.-Iran nuclear talks.
- On Tuesday, oil neared a seven-month high as traders gauged the outlook for U.S.-Iran nuclear talks and the scheduled meeting with Iran's foreign minister on Thursday, Feb. 26.
- Amid rising Mideast tensions, the U.S. State Department announced withdrawals from its Beirut embassy as the U.S. seeks Iran's nuclear abandonment while Iran denies weapon intent, with talks resuming this week.
- Technical indicators place crude at the top of the $55–$66.50 trading range, with Brent futures around $71.40 after hitting $72.50, and U.S. crude near $66.20.
- The U.S. imposed a 10% tariff after the Supreme Court struck down emergency tariffs, and Trump warned it would be "a very bad day" for Iran if no deal is reached.
- Inventory reports due after market hours today and on Wednesday will test the market's balance as dirty-tanker rates surge to a three-year high and the Baltic Dirty Tanker Index jumps 55%.
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14 Articles
Oil prices hit a seven-month high on Tuesday as tensions between the United States and Iran escalated. US President Donald Trump gave Iran an ultimatum to comply with Washington's demands by the end of February. On Monday, the price of US crude rose to $67.28 and North Sea Brent to $72.50 a barrel.
Times of India
The Economic TimesOil hovers below seven-month high as traders eye U.S.–Iran talks, trade policy
Oil prices dipped slightly Tuesday after reaching near seven-month highs, as traders closely watched U.S.-Iran nuclear talks and U.S. trade policy uncertainties. Tensions remain high with renewed diplomatic efforts and concerns over potential military conflict, while Ukrainian drone strikes also impacted a key Russian oil pipeline.
Oil Prices Rise: Iran Tensions & Nuclear Talks Fuel Market Fears
Archyde Oil prices surged to a seven-month high on Tuesday, fueled by escalating tensions between the United States and Iran as both nations prepare for a third round of nuclear talks… You can read the full story here: Oil Prices Rise: Iran Tensions & Nuclear Talks Fuel Market Fears.
Oil prices hold near seven-month highs as U.S.-Iran talks in focus
Oil prices held near seven-month highs on Tuesday, with Brent crude at $71.24 per barrel and US West Texas Intermediate (WTI) at $66.06. Earlier in the trading day, both benchmarks were on track for their highest closes since July/August of the previous year. The big picture: The market is closely watching US-Iran nuclear talks, with a third round scheduled for Thursday in Geneva, according to Oman’s Foreign Minister. The US seeks Iran’s abando…
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