{"id":16893,"date":"2026-02-17T07:30:59","date_gmt":"2026-02-17T07:30:59","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=16893"},"modified":"2026-02-17T07:30:59","modified_gmt":"2026-02-17T07:30:59","slug":"global-crude-oil-prices-today-february-17-2026-brent-oil-price-falls-to-68-33","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/16893\/","title":{"rendered":"Global Crude Oil Prices Today (February 17, 2026) \/ Brent Oil Price Falls to $68.33"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Brent oil prices edged slightly lower in Asian trading on Tuesday. Traders are weighing the potential for supply disruptions, a concern that has intensified following Iran\u2019s naval exercises near the Strait of Hormuz\u2014just ahead of the most significant round of Iran-U.S. nuclear talks starting today.<\/p>\n

According to Roydad Naft, Brent futures contracts were down 0.47% (32 cents) to $68.33 as of 04:30 GMT. This comes after a 1.33% increase the previous day (Monday).<\/p>\n

U.S. WTI reached $63.51, reflecting a 62-cent or 0.99% gain. However, this increase captures the full extent of Monday\u2019s movements, as the U.S. market was closed for Presidents\u2019 Day, so no formal WTI settlement occurred yesterday.<\/p>\n

Many major Asian markets\u2014including China, Hong Kong, Taiwan, South Korea, and Singapore\u2014are closed today due to the Lunar New Year holiday.<\/p>\n

U.S. President Donald Trump stated on Monday that he would be indirectly involved in the Geneva negotiations and expressed belief that Iran is willing to reach an agreement.<\/p>\n

Sogandha Sachdeva, market analyst and founder of SS WealthStreet in New Delhi, commented:<\/p>\n

\u201cRight now, market sentiment is more dependent than anything else on the tone and progress of the Iran-U.S. negotiations, which is helping maintain the geopolitical risk premium in prices.\u201d<\/p>\n

According to her, oil prices are likely to remain volatile in the coming period and will be driven more by diplomatic signals and political news than by traditional supply-and-demand fundamentals.<\/p>\n

Iran began its military exercises in the Strait of Hormuz yesterday. This strategic waterway is the primary route for oil exports from Arab Gulf countries, especially to Asian markets.<\/p>\n

Meanwhile, Citigroup has forecasted:<\/p>\n

If Russian supply restrictions persist and Brent stays in the $65\u201370 range, OPEC+ will likely tap into its spare capacity and increase production.<\/p>\n

Three sources familiar with OPEC+ also reported that the group is preparing to resume output hikes starting in April, driven by approaching summer demand and the current price support from U.S.-Iran tensions.<\/p>\n

In its base-case scenario, Citi predicts:<\/p>\n

\u201cAn agreement with Iran is likely by this summer, along with a resolution to the Ukraine-Russia issue. In that case, Brent prices could fall to the $60\u201362 range.\u201d<\/p>\n

Updated on