WTI Oil remains capped below $63.00 with the US-Iran talks on focus
작성자 Guillermo Alcala
게시일: 16 Feb 2026 | 수정일: 16 Feb 2026
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The US benchmark West Texas Intermediate (WTI) Oil has opened the week in the same weak tone seen at the end of the previous one, although prices remain steady within Friday’s trading ranges.
- WTI Crude prices remain trapped between $62.00 and $63.00 on Monday.
- Investors are awaiting the outcome of the US-Iran nuclear negotiations.
- Rumours of further output hikes from April are keeping upside attempts limited.,
The US benchmark West Texas Intermediate (WTI) Oil has opened the week in the same weak tone seen at the end of the previous one, although prices remain steady within Friday’s trading ranges. Upside attempts are capped at above $63.00, while support at the $62.00 area is holding bears so far, keeping Crude prices about 4% below last week’s highs in the area of $65.65.
Investors are looking from the sidelines on Monday, with all eyes on the nuclear talks between Washington and Tehran, and trading activity subdued. Markets have been closed in most Asian countries, celebrating the Lunar New Year holidays and a long weekend in the US amid the President’s Day bank holiday.
All options open with Iran
Comments from Iranian authorities confirmed that energy, mining, and aircraft deals are on the table in negotiations aimed at delivering economic benefits for both sides.
US Secretary of State Marco Rubio affirmed this weekend that the US administration is seeking a negotiated outcome, without ruling out military action. Washington has sent a second aircraft carrier to the Middle East, and news reports released over the weekend affirmed that US President Trump pledged support to Israeli’s attacks on Iran’s missile program if negotiations fail.
Meanwhile, rumours that OPEC+ countries might be considering resuming output hikes from April, bracing for an expected increase in global demand for the western summer, are keeping a lid on Oil rallies so far.
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
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