Brent Rises, US-Iran Talks in Focus

2026-02-25 00:51 By Judith Sib-at 1 min. read

Brent crude oil futures rose to around $71.1 per barrel on Wednesday after two consecutive sessions of decline, as investors weighed supply risks ahead of a third round of nuclear talks between the US and Iran.

During his State of the Union address, President Trump reiterated his preference for a diplomatic solution but also accused Iran of working to rebuild its nuclear program and that the country is seeking to develop missiles capable of striking the US.

Prior to this, Iran's deputy foreign minister said that his country will do "whatever it takes" to reach a deal with Washington.

Attention is on the Strait of Hormuz, a critical chokepoint through which roughly 20% of the world’s oil passes, where any escalation in hostilities could significantly disrupt supply.

Traders are also assessing the potential impact on demand from new US trade measures, as Trump’s 10% global tariff came into effect on Tuesday, with the administration working to raise it to 15%.



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