COMMODITY
Crude oil futures end higher amid geopolitical tensions
Feb-05-2026

Crude oil futures ended higher for second consecutive day amid geopolitical tensions. Nuclear talks between Iran and the United States will take place on Friday in Oman. Iran raised its disagreement in having the talks in Turkey, which was the initially proposed location. Besides, the Energy Information Administration released a report showing that crude oil inventories in the U.S. decreased by more than expected in the week ended January 30, 2026. Crude oil inventories fell by 3.5 million barrels last week after declining by 2.3 million barrels in the previous week.

Benchmark crude oil futures for March delivery rose $1.93 or 3.05% to settle at $65.14 a barrel on the New York Mercantile Exchange. Brent crude for April delivery increased $2.13 or 3.16% to settle at $69.46 a barrel on London's Intercontinental Exchange.

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