Brent Gains Ahead of US-Iran Talks

2026-02-26 00:50 By Kyrie Dichosa 1 min. read

Brent crude oil futures rose above $71 per barrel on Thursday, halting a three-day decline as investors prepared for a third round of US-Iran nuclear talks later in the day.

Markets were closely focused on the Geneva meeting amid heightened caution over the military buildup in the Middle East and Washington’s increased pressure on Iran through sanctions on entities involved in oil and weapons exports.

The talks come as President Donald Trump warned that the US could carry out limited strikes if a nuclear agreement is not reached.

However, gains were tempered by a sharp rise in US crude inventories, with EIA data showing a 16-million-barrel build last week, the largest weekly increase since February 2023.

Oversupply concerns were further reinforced as Saudi Arabia moved toward its highest crude exports in nearly three years, while Iran accelerated tanker loadings, according to Vortexa data.



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