Oil Steady as Iran Nuclear Talks Extend

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

WTI crude oil futures steadied around $65.5 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
Oil Steady as Iran Nuclear Talks Extend
WTI crude oil futures steadied around $65.5 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.
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Oil Rebounds on Iran Tensions
WTI crude oil futures rebounded 1.5% to around $66.30 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.
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Oil Falls by Over 1.5%
WTI crude oil futures fell more than 1.5% to around $64.3 per barrel on Thursday 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.
2026-02-26