US EditionOil Extends Decline Ahead of US-Iran Talks
Crude oil prices dropped over 3% from January highs as U.S.-Iran talks in Oman eased fears of Middle East supply disruptions, analysts said.
- On Feb 6, U.S. crude futures extended their decline as investors focused on the outcome of U.S.-Iran nuclear talks in Oman, paring risk premia ahead of the meeting.
- With a U.S. military buildup underway, talks in Oman were agreed amid tensions as regional players seek to avoid escalation near the Strait of Hormuz, which handles about a fifth of global oil consumption.
- After sharp prior-session losses, Brent crude futures fell 50 cents, or 0.74%, to $67.05 a barrel at 0102 GMT, while U.S. West Texas Intermediate crude traded at $62.77 a barrel, down 52 cents or 0.82% after closing 2.84% lower on Thursday.
- Capital Economics analysts warned that escalating geopolitical tensions between the U.S. and Iran have contributed to higher oil prices, but they said fundamentals should pressure prices toward $50 per barrel by end-2026.
- Benchmarks are set for their first weekly drop in more than a month, down more than 3% from late-January highs after President Donald Trump threatened Iran.
14 Articles
14 Articles
New Strait Times
Oil extends decline ahead of US-Iran talks
SINGAPORE: US crude futures extended their decline on Friday, on track for their first weekly drop in weeks, as concerns of supply disruption in the Middle East eased with investors focusing on the outcome of US-Iran nuclear talks in Oman later in the day.
United States crude oil futures continued to decline today Friday, with concerns about the disruption of supplies in the Middle East and investors focusing on the results of the upcoming American-Iranian nuclear talks in the Sultanate of Oman later today.
Business Recorder
Sada El baladOil set for first weekly decline in seven weeks ahead of US-Iran talks
SINGAPORE: US crude futures rose slightly on Friday but were on track for their first weekly drop in seven weeks as supply concerns eased, and investors focused on the outcome of US-Iran nuclear talks in Oman later in the day. Brent crude futures rose 25 cents, or 0.4%, to $67.80 a barrel at 0353 GMT, while the US West Texas Intermediate crude was also up 25 cents, or 0.4%, at $63.54 a barrel. The benchmarks are down more than 3% from near six-m…
Oil down almost 3% on easing concerns before Iran talks
US and Iran prepare for talks on Friday About a fifth of global oil goes via Hormuz Volatility leads to record WTI Midland contracts Oil prices settled down almost 3 percent on Thursday in choppy trading, after the US and Iran agreed to hold talks in Oman on Friday, easing concerns about Iranian crude supplies. Brent crude futures settled down $1.91, or 2.75 percent, at $67.55 per barrel. US West Texas Intermediate crude settled down $1.85, or 2…
Crude Oil slips as US-Iran talk tensions ease, WTI tests $63
West Texas Intermediate (WTI) trimmed a little bit off the top of barrel bids on Thursday, falling around $0.95 per barrel, or 1.5%. Crude Oil markets saw fresh tensions in recent weeks as the US and Iran circle each other around the policy negotiation table, with a tit-for-tat exchange of cancellation threats fueling a brief upswing in barrel bids. Both the US and Iran, after some sputtering cancellation threats, have reaffirmed that both sides…
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