Oil Prices Rise Amid Us-Iran Tensions And Military Buildup

As of February 25, 2026, oil prices are nearing seven-month highs due to escalating tensions between the U.S. and Iran, which have raised concerns about potential disruptions in oil supply. Brent futures rose by 43 cents to $71.20 per barrel, while WTI futures increased by 38 cents to $66.01. The U.S. has positioned military forces in the Middle East, prompting fears of military conflict that could affect Iran, the third-largest crude producer in OPEC. ING commodities strategists noted, "This uncertainty means the market will continue to price in a large risk premium and remain sensitive to any fresh developments." U.S. envoys are scheduled to meet with Iranian representatives for a third round of talks in Geneva, with Iran's Foreign Minister Abbas Araqchi stating that a deal is "within reach, but only if diplomacy is given priority." However, the situation remains precarious as President Trump has warned of "very bad consequences" if an agreement is not reached, emphasizing the U.S. stance on Iran's nuclear ambitions.