2026-02-18 08:00:00
OIL PRICE: BRENT ABOVE $68, WTI ABOVE $62
REUTERS - Feb 18 (Reuters) - Oil prices steadied in Asian trade on Wednesday after falling about 2% in the previous session as investors assessed progress in U.S.–Iran talks but remained cautious about the prospects of a final deal that could ease supply concerns.
Brent futures rose 23 cents or 0.34% to $67.65 a barrel by 0412 GMT, while U.S. West Texas Intermediate (WTI) crude was up 19 cents or 0.3% at $62.52. Both are around two-week lows.
Iran and the U.S. reached an understanding on Tuesday on main "guiding principles" in talks aimed at resolving their longstanding nuclear dispute, but that does not mean a deal is imminent, Iranian Foreign Minister Abbas Araqchi said.
Analysts remained sceptical about the potential for further progress.
"Crude oil prices look poised for a technical rebound ... However, a finalised agreement remains distant, and markets remain cautious about the durability of diplomatic momentum," said Sugandha Sachdeva, founder of SS WealthStreet, a New Delhi-based research firm.
Political consultancy Eurasia Group said in a Tuesday note to clients that it thinks there is a 65% probability of U.S. military strikes against Iran by the end of April.
Also weighing on oil prices were reports from Russian media that output at the Tengiz oil field in Kazakhstan, one of the world's largest, was rising after a suspension in January.
Tengiz plans to reach full capacity by February 23, Reuters sources said.
The market will be focused on weekly reports by the American Petroleum Institute, due later in the day, and the Energy Information Administration, the statistical arm of the U.S. Department of Energy, on Thursday.
Analysts polled by Reuters estimated that U.S. crude oil stockpiles likely rose last week, while distillate and gasoline inventories probably fell.
They expect crude inventories climbed by about 2.3 million barrels in the week to February 13, while stockpiles of gasoline (USOILG=ECI), opens new tab declined by around 200,000 barrels and distillate inventories (USOILD=ECI), opens new tab, which include diesel and heating oil, dropped by some 1.6 million barrels.
Meanwhile, negotiators from Ukraine and Russia wrapped up the first day of U.S.-brokered peace talks in Geneva on Tuesday, and President Donald Trump urged Kyiv to move swiftly toward an agreement to end the four-year conflict.
"Any shift in that geopolitical axis could add risk premium (to prices)," Sachdeva added.
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Earlier:
2026, February, 10, 13:30:00
OIL PRICE: BRENT NEAR $69, WTI ABOVE $64
Brent were down 16 cents, or 0.23%, at $68.88, WTI fell 20 cents, or 0.31%, to $64.16.
2026, February, 10, 13:27:00
RUSSIA, CHINA ENERGY STRATEGY
Against a backdrop of intensifying Western economic coercion, renewed attempts to weaponize trade, the slowdown in Russia–China bilateral trade, and the U.S.-India oil narrative curbing India’s imports of Russian energy, as well as visible stress fractures in the global energy system, the Putin-Xi dialogue emerged as a crucial strategic calibration for Russia and China.
2026, February, 10, 13:22:00
GLOBAL OIL GIVE ELECTRICITY
Globally, over 666 million people do not have access to electricity. If those without electricity were a country, they would be the third most populous on earth.
2026, February, 5, 08:00:00
OIL PRICE: BRENT NEAR $68, WTI ABOVE $64
Brent fell $1.44, or 2.07%, to $68.02, WTI fell $1.34 cents, or also 2.06%, to trade at $63.80.
2025, December, 2, 19:35:00
OPEC+ WILL SUSPEND
The eight participating countries reiterated that the 1.65 million barrels per day may be returned in part or in full subject to evolving market conditions and in a gradual manner.
2025, October, 14, 07:00:00
OIL PRICE: BRENT ABOVE $63, WTI NEAR $60
Brent rose 22 cents, or 0.4%, to $63.54 a barrel , WTI was at $59.71 a barrel, up 22 cents, or 0.4%.
2025, October, 8, 06:50:00
OPEC+ PRODUCTION ADJUSTMENT 137 TBD
In view of a steady global economic outlook and current healthy market fundamentals, as reflected in the low oil inventories, the eight participating countries decided to implement a production adjustment of 137 thousand barrels per day from the 1.65 million barrels per day additional voluntary adjustments announced in April 2023.
2025, October, 3, 06:50:00
OPEC + OVERALL CONFORMITY
The Committee also reaffirmed that it will continue to monitor adherence to the production adjustments decided upon at the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM) held on 5 December 2024, and the additional voluntary production adjustments announced by some participating OPEC and non-OPEC countries as agreed upon in the 52nd JMMC held on 1 February 2024.