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Oil Prices Surge Amid Tensions in Iran Nuclear Talks

2/18/2026

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Story summary
  • Oil prices rose 3% on February 18, 2026, after Vice President JD Vance said Iran did not meet U.S. demands in nuclear talks.
  • U.S. crude rose to $64.32 per barrel, while Brent reached $69.46.
  • Vance said U.S. President Donald Trump retains the option of military action if diplomacy fails, as two aircraft carriers were deployed.
  • U.S. envoys held discussions with Iran, described as constructive by Iran's Foreign Minister.