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Crude Oil Prices Up On US-Iran Talks

Crude Oil Prices Up On US-Iran Talks

Prachachat•Economy•19h ago

Reader Briefing

Crude oil prices saw an uptick driven by market anticipation of US-Iran negotiations concerning nuclear agreements and potential economic benefits, while also factoring in contingency plans for military action.

  • •Crude oil prices for West Texas Intermediate (WTI) and Brent crude rose due to market focus on US-Iran negotiations.
  • •The negotiations are expected to cover nuclear agreements, economic benefits, energy and mining investments, and aircraft purchases.
  • •Market sentiment is also influenced by strong Chinese crude oil imports, particularly from Russia, and a decrease in US oil rig counts.

Overview

  • •Negotiations between the US and Iran were scheduled to take place today in Geneva.
  • •An Iranian diplomat stated that Iran is negotiating a nuclear agreement with the US, which will bring economic benefits to both sides.
  • •A US official revealed that the US is preparing for the possibility of continuous military operations if negotiations are unsuccessful.
  • •The Iranian Revolutionary Guard Corps warned of retaliation by attacking US bases if the US uses military force against Iran.
  • •West Texas crude oil traded at $62.89 per barrel on February 16, 2026.
  • •Brent crude oil traded at $68.65 per barrel on February 16, 2026, an increase of +$0.90 per barrel.
  • •Chinese crude oil imports remain strong, with Russian crude imports expected to hit a record high in February 2026 due to discounts.
  • •The number of US crude oil rigs decreased by 3 to 409 for the week ending February 13, 2026, reaching a low since early January 2026.

Full article content is available on the original source.

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Source: Prachachat (Original)

Key Quotes

Iranian diplomat
"Iran is negotiating a nuclear agreement with the US, which will bring economic benefits to both sides."
อิหร่านกำลังดำเนินการเจรจาข้อตกลงนิวเคลียร์กับสหรัฐ ซึ่งจะก่อให้เกิดผลประโยชน์ทางเศรษฐกิจแก่ทั้งสองฝ่าย
US official
"The US is preparing for the possibility of continuous military operations if negotiations are unsuccessful."
สหรัฐกำลังเตรียมความพร้อมสำหรับความเป็นไปได้ที่จะเกิดปฏิบัติการทางทหารอย่างต่อเนื่องหากการเจรจาไม่ประสบความสำเร็จ
Iranian Revolutionary Guard Corps
"Will retaliate by attacking US bases if the US uses military force against Iran."
จะตอบโต้ด้วยการโจมตีฐานทัพสหรัฐ หากสหรัฐใช้กำลังทางทหารต่ออิหร่าน

Key Entities

Place

United States(สหรัฐ)ℹ️
The nation engaged in negotiations with Iran and holding contingency military plans.
Iran(อิหร่าน)ℹ️
The nation engaged in negotiations with the United States and possessing retaliatory military warnings.
West Texas(เวสต์เทกซัส)ℹ️
Designation for a type of crude oil whose price is tracked in the article.
Brent(เบรนต์)ℹ️
Designation for a type of crude oil whose price is tracked in the article.
China(จีน)ℹ️
The nation whose strong crude oil imports are influencing market prices.
Russia(รัสเซีย)ℹ️
The nation whose crude oil exports to China are increasing significantly.
India(อินเดีย)ℹ️
The nation that has reduced its imports of Russian crude oil.

Organization

Thai Oil Public Company Limited(บมจ.ไทยออยล์)ℹ️
An entity providing analysis on oil price situations.
Iranian Revolutionary Guard Corps(กองกําลังพิทักษ์การปฏิวัติของอิหร่าน)ℹ️
The military entity warning of retaliation against US bases.
Baker Hughesℹ️
The company reporting on the number of US oil and natural gas drilling rigs.