Summary

Oil prices hovered near six-month highs after U.S. President Donald Trump warned Iran of potential military action if no deal is reached over its nuclear program. The U.S. and Iran held talks in Switzerland this week, but progress stalled, leading to accusations from Washington that Iran failed to address core U.S. demands. While the oil market is well-supplied globally, concerns about Iran, increased buying by China, and high freight rates are supporting prices.

https://www.cnbc.com/2026/02/20/oil-prices-trump-us-iran-conflict-strikes-energy.html