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Crude Oil Prices Rise Amidst Middle East Tensions

Crude Oil Prices Rise Amidst Middle East Tensions

Prachachat•Economy•1d ago

Reader Briefing

Global oil prices increased due to escalating Middle East tensions and anticipation of OPEC+ production adjustments.

  • •West Texas Intermediate and Brent crude oil prices rose significantly due to heightened tensions in the Middle East.
  • •US CPI data for January 2026 indicated a strengthening US economy, coming in below market expectations.
  • •Market attention is also focused on upcoming Russia-Ukraine peace talks and potential OPEC+ production policy shifts.

Overview

  • •Crude oil prices of West Texas Intermediate and Brent increased due to rising Middle East tensions.
  • •The United States ordered an aircraft carrier group to the Middle East in order to exert pressure on Iran.
  • •In the past month, the US military has continuously moved military equipment into the region.
  • •On February 13, 2026, West Texas Intermediate crude oil traded at $62.89 per barrel, up $0.05.
  • •Brent crude oil traded at $67.75 per barrel, up $0.23.
  • •US Consumer Price Index (CPI) for January 2026 was 2.4%, lower than the forecasted 2.5%.
  • •The next round of peace talks between Russia and Ukraine is scheduled for February 17-18, 69.
  • •OPEC+ may gradually lift production cuts, leading to a potential increase in crude oil supply.

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Source: Prachachat (Original)

Key Entities

Organization

Thai Oil Public Company Limited(บมจ.ไทยออยล์)ℹ️
An analysis unit that provided commentary on factors affecting oil prices.
Bloomberg(บลูมเบิร์ก)ℹ️
News agency that reported on the upcoming Russia-Ukraine peace talks.
OPEC+(โอเปกพลัส)ℹ️
Group whose production policies are anticipated to impact global oil supply.

Place

United States(สหรัฐ)ℹ️
Country whose economic indicators and military actions are influencing global oil markets.
Iran(อิหร่าน)ℹ️
Nation reportedly being pressured by US military movements.
Russia(รัสเซีย)ℹ️
Nation involved in ongoing peace talks with Ukraine and subject to Ukrainian military actions.
Ukraine(ยูเครน)ℹ️
Nation involved in peace talks with Russia and conducting military operations against Russian energy infrastructure.