Nymex Overview : Oil Futures Climb on Continued Tensions Between the US and Iran — OPIS

Crude oil contracts were up at midday Friday on renewed concerns over U.S.-Iran tensions and as the front-month Brent, RBOB, and ULSD are set to expire at the end of the day.

The NYMEX April West Texas Intermediate contract was up $1.27 at $66.48/bbl at about 11:45 a.m. ET. The May WTI contract was $1.29 higher at $66.40/bbl. The ICE April Brent crude contract was up $1.64 to $72.39/bbl and May Brent added $1.45 to $72.29/bbl.

Refined product futures were also higher. The March RBOB contract was up 3.13cts to $2.0636/gal and the April contract was 2.25cts higher at $2.2762/gal. The March ULSD contract was up 6.41cts to $2.6766/gal and April ULSD was 6.01cts higher at $2.5859/gal.

Oil prices rose after U.S. and Iranian negotiators met Thursday over U.S. demands that the country halt its nuclear enrichment program. Oman’s foreign minister said the talks made “significant progress,” though no deal was reached. Markets are concerned that that prolonged negotiations could test U.S. patience. The Trump administration has deployed a sizable military presence near Iran and the State Department has directed nonessential personnel and their families to leave Israel.

Traders are also waiting to see whether OPEC+’s eight producing countries approve a modest output increase starting in April. Analysts has said capacity constraints in some member countries could limit the impact of any production hike.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.

Reporting by Allegra Fradkin, afradkin@opisnet.com; Editing by Jeffrey Barber, jbarber@opisnet.com

(END) Dow Jones Newswires

02-27-26 1242ET