U.S. Military Buildup In Middle East Amid Iran Negotiations

Oil prices have recently experienced fluctuations amid escalating tensions between the U.S. and Iran, with Brent crude futures climbing to $71.12 per barrel and WTI futures reaching $65.65 as of February 26, 2026. This rise comes as U.S. envoy Steve Witkoff and Jared Kushner prepare for a third round of talks with Iranian representatives in Geneva, with analysts like Toshitaka Tazawa from Fujitomi Securities noting, "Investors are focusing on whether military conflict will be averted in the U.S.-Iran negotiations." However, the market remains cautious due to a significant increase in U.S. crude inventories, which rose by 16 million barrels last week, far exceeding the anticipated 1.5 million barrels, according to the Energy Information Administration. This inventory surge has tempered the price gains, as highlighted by the Tribune Latest, which reported oil prices slipping into negative territory on February 25, 2026, due to the overwhelming stock build despite geopolitical tensions.