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Oil Prices Fluctuate Amid U.S.-Iran Talks and Tariff Fears

2/23/2026

49 8 Full Breakdown

Summary

Story summary

Amid U.S.-Iran talks and tariff announcements, on February 22 Brent rose to $71.95 and WTI to $66.73, with Morgan Stanley predicting little supply disruption.
On February 23, prices fell about 1% as uncertainties from U.S. President Donald Trump’s tariff increase (10% to 15%) created risk aversion.
Goldman Sachs forecasts a 2026 global oil surplus, contingent on no Iran-related disruptions, while sanctions relief could pose risks to future prices.

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Story summary

Amid U.S.-Iran talks and tariff announcements, on February 22 Brent rose to $71.95 and WTI to $66.73, with Morgan Stanley predicting little supply disruption.
On February 23, prices fell about 1% as uncertainties from U.S. President Donald Trump’s tariff increase (10% to 15%) created risk aversion.
Goldman Sachs forecasts a 2026 global oil surplus, contingent on no Iran-related disruptions, while sanctions relief could pose risks to future prices.