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Story summary
- Oil prices rose on February 17, 2026, as U.S.-Iran nuclear talks began in Geneva; West Texas Intermediate neared $64 and Brent finished below $69.
- Iran's Islamic Revolutionary Guard Corps conducted naval drills in the Hormuz Strait, heightening tensions.
- Analysts said that if Middle East tensions ease, the oil risk premium could decrease.
- Asian markets remained cautious amid holiday trading, with Japan's Nikkei down 0.5% on weak GDP growth.
