{"id":16787,"date":"2026-02-05T11:06:18","date_gmt":"2026-02-05T11:06:18","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=16787"},"modified":"2026-02-05T11:06:18","modified_gmt":"2026-02-05T11:06:18","slug":"global-crude-oil-prices-today-february-5-2026-brent-oil-price-drops-to-68-6","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/16787\/","title":{"rendered":"Global Crude Oil Prices Today (February 5, 2026) \/ Brent Oil Price Drops to $68.6"},"content":{"rendered":"<div class=\"entry-content\" itemprop=\"description\"><p><span class=\"pre-content-text\"><a style=\"color: #0038a8;\" href=\"https:\/\/roydadnaft.ir\/English\/\">RoydadNaft &#8211; <\/a><\/span>\u00a0Oil prices declined more than 1% on Thursday but remained close to multi-month highs after the United States and Iran agreed to hold talks in Oman on Friday.<\/p>\n<p>According to Roydad Naft, Brent futures settled at $68.6 per barrel at 10:36 GMT, down 86 cents or 1.2%. U.S. WTI crude also traded down 82 cents, or about 1.3%, at $64.32.<\/p>\n<p>However, Brent is only $3 below its five-month high reached at the end of January due to concerns over potential supply disruptions.<\/p>\n<p>Oil prices remain heavily influenced by tensions in the Middle East, with markets closely monitoring the Oman talks, according to Giovanni Staunovo, an analyst at UBS.<\/p>\n<p>These discussions are taking place amid the U.S. reinforcing its military presence in the Middle East, while regional players seek to avoid a military conflict that many fear could escalate into a broader war.<\/p>\n<p>About one-fifth of the world\u2019s total oil consumption passes through the Strait of Hormuz between Oman and Iran. Other OPEC members\u2014Saudi Arabia, the United Arab Emirates, Kuwait, and Iraq\u2014export most of their crude oil through this strait, as does Iran.<\/p>\n<p>John Evans, an analyst at PVM Oil Associates, said the market is likely to fluctuate ahead of Friday\u2019s meeting in anticipation of diplomatic progress.<\/p>\n<p>\u201cHowever, there will be no relief in prices, as an inappropriate statement or failure in the talks could quickly push Brent back toward the $70 per barrel level and toward the year\u2019s highs.\u201d<\/p>\n<p>Volatility has led investors to rush to lock in oil prices for the year, with a record number of WTI Midland contracts traded in Houston in January amid concerns over Middle East supply risks and increased Venezuelan barrels entering the U.S. Gulf Coast.<\/p>\n<p>The strength of the U.S. dollar and fluctuations in precious metals also put pressure on commodities and broader risk appetite on Thursday, according to analysts.<\/p>\n<div class=\"post-date no-social-btn post-updated\">Updated on<time class=\"updated dt-updated\" itemprop=\"dateModified\" datetime=\"2026-02-05T11:06:18+00:00\"> 5 February 2026<\/time><\/div><\/div>","protected":false},"excerpt":{"rendered":"Brent crude futures fell by 86 cents (equivalent to a 1.2% decrease) to $68.6 per barrel. U.S. West Texas Intermediate (WTI) crude futures dropped by 82 cents (about a 1.3% decrease) to $64.32.","protected":false},"author":1,"featured_media":16788,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[47,36,19,16,35],"tags":[],"services":[],"class_list":["post-16787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","category-lastnews","category-news","category-oil","category-topnews"],"_links":{"self":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/16787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/comments?post=16787"}],"version-history":[{"count":0,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/posts\/16787\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media\/16788"}],"wp:attachment":[{"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/media?parent=16787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/categories?post=16787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/tags?post=16787"},{"taxonomy":"services","embeddable":true,"href":"https:\/\/roydadnaft.ir\/English\/wp-json\/wp\/v2\/services?post=16787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}