Oil Heads for Strong Weekly Gain

2026-02-20 00:42 By Kyrie Dichosa 1 min. read

WTI crude oil futures rose toward $67 per barrel on Friday, hitting a six-month high and heading for a weekly gain of more than 5%, after President Donald Trump set a deadline for Iran to reach a nuclear agreement.

Trump signaled that negotiations would likely have no more than 10 to 15 days to advance.

At the same time, the US has deployed its largest military buildup in the Middle East since the 2003 Iraq invasion, raising the prospect of a broader and more sustained operation than last June’s overnight strike on Iran’s nuclear facilities.

The move has heightened the risk of supply disruptions, with investors concerned that a US-Iran conflict could prompt Iran to restrict traffic through the Strait of Hormuz, a critical corridor for crude exports from the region.

Adding to bullish momentum, government data showed US crude inventories fell by 9 million barrels last week, marking the steepest draw since early September.



News Stream
Oil Heads for Strong Weekly Gain
WTI crude oil futures rose toward $67 per barrel on Friday, hitting a six-month high and heading for a weekly gain of more than 5%, after President Donald Trump set a deadline for Iran to reach a nuclear agreement. Trump signaled that negotiations would likely have no more than 10 to 15 days to advance. At the same time, the US has deployed its largest military buildup in the Middle East since the 2003 Iraq invasion, raising the prospect of a broader and more sustained operation than last June’s overnight strike on Iran’s nuclear facilities. The move has heightened the risk of supply disruptions, with investors concerned that a US-Iran conflict could prompt Iran to restrict traffic through the Strait of Hormuz, a critical corridor for crude exports from the region. Adding to bullish momentum, government data showed US crude inventories fell by 9 million barrels last week, marking the steepest draw since early September.
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