Brent Steady as Iran Nuclear Talks Extend

2026-02-27 00:56 By Kyrie Dichosa 1 min. read

Brent crude oil futures steadied below $71 per barrel on Friday following a choppy session, after the US and Iran agreed to continue nuclear negotiations next week.

Iran described the latest Geneva talks as showing good progress, while a source familiar with the US position said American officials left the negotiations disappointed.

Discussions will resume after consultations in each capital, alongside technical-level meetings scheduled for next week in Vienna.

Still, some tensions persisted after Tehran said it would not allow enriched uranium to leave the country, while a large deployment of US forces in the Middle East kept markets on edge, as President Trump warned of possible military action if the two sides failed to reach an agreement.

Meanwhile, traders will closely monitor Sunday’s scheduled OPEC+ supply meeting as geopolitical tensions continue to cloud the outlook amid expectations of a broader oil glut.

For the week, oil is heading toward a decline.



News Stream
Brent Steady as Iran Nuclear Talks Extend
Brent crude oil futures steadied below $71 per barrel on Friday following a choppy session, after the US and Iran agreed to continue nuclear negotiations next week. Iran described the latest Geneva talks as showing good progress, while a source familiar with the US position said American officials left the negotiations disappointed. Discussions will resume after consultations in each capital, alongside technical-level meetings scheduled for next week in Vienna. Still, some tensions persisted after Tehran said it would not allow enriched uranium to leave the country, while a large deployment of US forces in the Middle East kept markets on edge, as President Trump warned of possible military action if the two sides failed to reach an agreement. Meanwhile, traders will closely monitor Sunday’s scheduled OPEC+ supply meeting as geopolitical tensions continue to cloud the outlook amid expectations of a broader oil glut. For the week, oil is heading toward a decline.
2026-02-27
Brent Hits 30-week High
Brent increased to 72.49 USD/Bbl, the highest since July 2025. Over the past 4 weeks, Brent Crude Oil gained 7.24%, and in the last 12 months, it decreased 1.51%.
2026-02-26
Brent Crude Oil Rebounds Past $72
Brent crude oil futures rebounded 2% to above $72 per barrel on Thursday, reversing earlier losses of nearly 3%, after Iranian state media said Tehran would not allow enriched uranium to leave the country. The comments underscored tensions in ongoing US-Iran nuclear talks in Geneva, just days before President Donald Trump’s deadline for a deal, reviving concerns that a breakdown could disrupt supplies from the OPEC producer. Prices had fallen earlier after Omani mediators described the discussions as constructive, though negotiations are set to resume later in the day. Oil remains torn between expectations of a global supply glut and rising Middle East risks. Meanwhile, Saudi exports are nearing a three-year high, and flows from Iraq, Kuwait and the UAE have also risen. Markets now await Sunday’s OPEC+ meeting, where a modest output hike for April is under consideration.
2026-02-26