Oil Prices Impacted by US-Iran Nuclear Talks and Trade War Uncertainties

Global Oil Markets and Geopolitical Risks The price of Brent crude oil is trading at approximately $71.49 per barrel in international markets, influenced by diplomatic shifts in the Middle East and uncertainties regarding global trade policies.
After reaching a high of $72.05 during the previous trading session, prices concluded the day at $71.26.
This volatility reflects ongoing concerns over supply security and the outlook for global demand.
US-Iran Nuclear Negotiations and Diplomatic Activity The third round of nuclear negotiations between Iran and the United States, mediated by Oman, is scheduled to take place on February 26 in Geneva, Switzerland.
While markets maintain a cautious stance ahead of these critical talks, fears that regional tensions could escalate at any moment continue to exert pressure on prices.
Risk perception in the region was further heightened after the US State Department requested that non-essential diplomatic personnel and their families leave Lebanon due to rising tensions.
Meanwhile, Iranian Deputy Foreign Minister Kazem Gharibabadi reiterated that his country is not seeking nuclear weapons, dismissing allegations that Iran's nuclear program has military objectives.
Trade Tariffs and Economic Uncertainty Legal and political developments regarding trade policies in the United States are also directly impacting energy markets.
Following a US Supreme Court decision regarding presidential authority to impose tariffs, Donald Trump announced a 10% global customs duty on all countries under the 1974 Trade Act, later stating this rate would be increased to 15%.
Economic experts suggest that these tariff measures increase uncertainty regarding global growth prospects and trigger concerns over oil demand.
Technical analysis indicates that $72.40 serves as a resistance level for Brent crude, while $65.50 remains a critical support point.