Oil drops 1% as US, Iran pledge to continue talks
#Crude oil #US-Iran relations #Nuclear talks #Sanctions #Energy market #Brent crude #Tehran #Commodities
📌 Key Takeaways
- Oil prices dropped by 1% following news of continued diplomatic talks between the US and Iran.
- The potential lifting of sanctions could significantly increase global oil supply from Iranian reserves.
- Market participants have reduced the geopolitical 'risk premium' previously attached to crude prices.
- Investors remain cautious as the final outcome of the nuclear negotiations is still uncertain.
📖 Full Retelling
🏷️ Themes
Economy, Energy, Geopolitics
📚 Related People & Topics
Brent Crude
Classification of crude oil that serves as a major worldwide benchmark price
Brent Crude may refer to any or all of the components of the Brent Complex, a physically and financially traded oil market based around the North Sea of Northwest Europe; colloquially, Brent Crude usually refers to the price of the ICE (Intercontinental Exchange) Brent Crude Oil futures contract or ...
Sanction
Topics referred to by the same term
# Sanction **Sanction** is a linguistic phenomenon known as an **auto-antonym** (or contronym), a word that possesses two contradictory meanings depending on the context in which it is used. ### Etymology and Usage The term originates from the Latin *sanctio*, referring to a formal decree or law. ...
Petroleum
Naturally occurring combustible liquid
# Petroleum **Petroleum**, commonly referred to as **crude oil** or simply **oil**, is a naturally occurring, yellowish-black liquid mixture of organic compounds found in various geological formations beneath the Earth's surface. It is primarily composed of hydrocarbons, though it may also contain ...
Energy market
System enabling the sale and purchase of the physical property used for work
An energy market is a type of commodity market on which electricity, heat, and fuel products are traded. Natural gas and electricity are examples of products traded on an energy market. Other energy commodities include: oil, coal, carbon emissions (greenhouse gases), nuclear power, solar energy and ...
📄 Original Source Content
try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry As Claude disrupts stock market, Anthropic researcher warns ’world is in peril’ Gold, silver prices rise amid U.S.-Iran tensions, blowout January payrolls data Dow halts three-day win streak as blowout jobs data curbs rate cut bets Citi pushes back Fed rate cuts to May after blowout January jobs report (South Africa Philippines Nigeria) Oil settles up more than 1% after US urges caution for vessels near Iran Commodities Published 02/08/2026, 06:19 PM Updated 02/09/2026, 03:54 PM Oil settles up more than 1% after US urges caution for vessels near Iran 1 CVX 1.91% LCO 0.07% CL 0.51% By Shariq Khan NEW YORK, Feb 9 - Oil prices settled more than 1% higher on Monday after the U.S. Department of Transportation issued an advisory to U.S.-flagged vessels to stay as far as possible from Iranian territory while passing through the Strait of Hormuz and Gulf of Oman. Brent crude oil futures settled up 99 cents, or 1.5%, at $69.04 a barrel. U.S. West Texas Intermediate crude rose 81 cents, or 1.3%, to settle at $64.36. The U.S. DOT’s Maritime Administration on Monday noted that vessels going through the Strait of Hormuz and Gulf of Oman have historically faced the risk of being boarded by Iranian forces, including as recently as February 3. The agency advised U.S.-flagged ships to stay close to Oman while eastbound in the Strait of Hormuz. The move renewed concerns that tensions between the U.S. and Iran could lead to oil supply disruptions. About a fifth of the oil consumed globally passes through the Strait of Hormuz between Oman and Iran. "This week’s crude trade, and possibly the rest of this month, will have little to do with oil fundamentals but much to do with injection and rejection of risk premium related to Iran," said oil trading adviser Ritterbusch and Associates. Oil prices had dropped earlier, extending last week’s losses, after the U.S. and Iran pledged to continue indirect talks following what they describ...