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2026-02-16 17:06:46
[Oil Prices Hold Steady as Middle East Talks and Supply Pressure Limit Upside] ⑴ Oil prices were largely steady on Monday, with the market remaining cautious ahead of the second round of talks between the US and Iran this week. Brent crude rose slightly by 0.1% to $67.60 a barrel, while West Texas Intermediate (WTI) crude remained unchanged at $62.30 a barrel, after recording a weekly decline last week. ⑵ Saxo Bank analysts noted that without disruptions to Middle East supply, the upside potential for oil prices to continue rising above $70 seems limited. The market continues to emphasize ample supply, and there are signs that some OPEC members believe there is room to resume production increases in April. ⑶ Traders are also closely watching the US-mediated talks between Russian and Ukrainian officials, which aim to end the four-year war. Potential easing of geopolitical tensions could also put pressure on oil prices.
