Oil, markets digest escalation risks ahead of US-Iran talks

With critical US-Iran talks scheduled for Thursday, markets continue adjusting to the risks posed by an escalation in the Middle East should diplomacy falter.

Samuel Wendel

Feb 25, 2026

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Oil prices hovered near seven-month highs on Wednesday as investors awaited the outcome of high-stakes US-Iran nuclear talks set for Thursday in Geneva, with markets weighing the possibility of new US military strikes should diplomacy falter. 

International benchmark Brent crude traded at $70.80 per barrel as of 10:46 AM EST, holding above the $70 mark for a sixth consecutive session and reaching its highest levels since July 2025. 

The gains come after President Donald Trump said last Friday that he is considering limited military strikes to pressure Tehran over its nuclear program and........

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