COMMODITY
Crude oil futures end higher amid geopolitical tensions
Feb-07-2026

After previous session’s losses, Crude oil futures ended higher on Friday as traders turned their focus towards progress of U.S.-Iran talks. Investors remained cautious as tensions rose between the U.S. and Iran, with the U.S. alternately shifting stances. After ordering an armada of U.S. forces to close in on Iran, U.S. President Donald Trump threatened Iran to negotiate with the U.S. over its nuclear programs or encounter heavy strikes. Iran is the fourth largest oil producer in the OPEC alliance and controls the Strait of Hormuz, which is a critical chokepoint for global oil transit.

Benchmark crude oil futures for March delivery rose $0.21 or 0.33% to settle at $63.50 a barrel on the New York Mercantile Exchange. Brent crude for April delivery increased $0.50 or 0.74% to settle at $68.05 a barrel on London's Intercontinental Exchange.

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