2026-02-10 13:30:00
OIL PRICE: BRENT NEAR $69, WTI ABOVE $64
REUTERS - February 10, 2026 - Oil prices edged down on Tuesday as traders gauged the potential for supply disruptions after U.S. guidance for vessels transiting the Strait of Hormuz kept attention squarely on tensions between Washington and Tehran.
Brent crude oil futures were down 16 cents, or 0.23%, at $68.88 a barrel by 0800 GMT. U.S. West Texas Intermediate crude fell 20 cents, or 0.31%, to $64.16.
That's after prices rose more than 1% on Monday, when the U.S. Department of Transportation's Maritime Administration advised U.S.-flagged commercial vessels to stay as far from Iran’s territorial waters as possible and to verbally decline Iranian forces permission to board if asked.
About a fifth of the oil consumed globally passes through the Strait of Hormuz between Oman and Iran, making any escalation in the area a major risk to global oil supplies.
Iran and fellow OPEC members Saudi Arabia, the United Arab Emirates, Kuwait, and Iraq export most of their crude via the strait, mainly to Asia.
The guidance was issued despite Iran's top diplomat saying last week that Oman-mediated nuclear talks with the U.S. were off to a "good start" and set to continue.
"While talks in Oman produced a cautiously positive tone, lingering uncertainty over potential escalation, sanctions tightening, or supply disruptions in the Strait of Hormuz has kept a modest risk premium intact," Tony Sycamore, an analyst at IG, wrote in a client note.
Meanwhile, the European Union has proposed extending its sanctions against Russia to include ports in Georgia and Indonesia that handle Russian oil, the first time the bloc would target ports in third countries, according to a proposal document reviewed by Reuters.
The move is part of efforts to tighten sanctions on Russian oil, a key source of revenue for Moscow, over the war in Ukraine.
Indian Oil Corp (IOC.NS), opens new tab bought six million barrels of crude from West Africa and the Middle East, traders said, as the Asian country steered clear of Russian oil in New Delhi's push for a trade deal with Washington.
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Earlier:
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, 10, 06:50:00
OIL PRICES WILL DOWN TO $52
The EIA said in a statement that it expects oil production growth to be led by countries outside of OPEC+. Production in South America has been the leading source of growth as new offshore vessels have started up ahead of schedule in Brazil and Guyana this year, the outlook said.
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.
2025, August, 21, 06:55:00
RUSSIAN OIL & SANCTIONS
Trump has repeatedly threatened the largest buyers of Russian crude with sanctions if a deal to end the war in Ukraine is not reached. On Aug. 6, Trump issued an executive order raising tariffs on US imports from India from 25% to 50%, in response to what Trump described on Truth Social as India's "massive" purchases of Russian crude.
2025, August, 21, 06:50:00
RUSSIA'S OIL EXPORTS UP BY 7%
Physical export volumes in July increased 1.4% month-on-month to 7.3 million barrels per day, matching the export volume from a year earlier.