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5:31 PM ยท 26 February 2026

Oil surges almost 2% amid US - Iran tensions ๐Ÿ“ˆ

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Oil surges almost 2% today as Iranian state media reported that Tehran will not allow enriched uranium to leave the country, prompting markets to increase bets on a potential military escalation in the Middle East, where the United States has concentrated significant forces.
  • US–Iran negotiations back under pressure: the comments have fueled concerns about a possible collapse of the nuclear talks in Geneva and the risk of supply disruptions from the OPEC producer.
  • Political “deadline” in the background: nervousness is building ahead of the deadline set by President Donald Trump for reaching an agreement.
  • Earlier, Oman helped calm markets somewhat, with mediators describing the talks as constructive, although negotiations are set to resume later today.
  • Two opposing forces: oil prices remain caught between expectations of a global supply glut and rising geopolitical risks in the Middle East.
  • At the same time, supply is increasing: Saudi exports are approaching a three-year high, and shipments from Iraq, Kuwait, and the UAE are also rising. Nevertheless, a closure of the Strait of Hormuz in a conflict scenario could push prices above $100 per barrel.

OIL (D1)

Crude has climbed back above $72 per barrel, with market attention now shifting to Sunday’s OPEC+ meeting, where a modest output increase for April is under consideration. Today’s rise in oil prices appears to be weighing on equity indices.

Source: xStation5

26 February 2026, 6:53 PM

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