Brent Crude Falls Below $70

2026-02-26 10:44 By Agna Gabriel 1 min. read

Brent crude futures dropped more than 1.5% on Thursday, slipping below $70 per barrel as investors weighed renewed nuclear negotiations between the United States and Iran alongside rising exports from key Middle Eastern producers.

Washington and Tehran launched a third round of talks just days ahead of a deadline set by Donald Trump, with Iranian officials signaling a degree of flexibility even as the U.S.

imposed fresh sanctions on more than 30 entities linked to Iran’s oil and weapons trade.

Prices have also come under pressure from expectations of a global supply surplus later this year.

Saudi Arabia is poised to ship its highest volume of crude in nearly three years, while exports from Iraq, Kuwait, and the United Arab Emirates have climbed.

Market participants are now looking ahead to the upcoming OPEC+ meeting for clarity on April production policy.



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