WTI Oil ticks up to the $62.50 area as doubts about a US-Iran deal arise
Bởi Guillermo Alcala
Ngày xuất bản: 18 Feb 2026 | Ngày chỉnh sửa: 18 Feb 2026
BÀI VIẾT PHỔ BIẾN
Crude Oil prices are trimming some of Tuesday’s losses on Wednesday, reaching session highs near $62.50 per barrel, after bouncing from two-week lows at $61,76. Investors are starting to reassess the chances of a US-Iran deal after the second round of conversations ended without any tangible advance
- WTI Oil prices have reached $62.50 on Wednesday after bouncing from $61.76 lows.
- The lack of details about the progress in the US-Iran negotiations has dampened hopes of a peace deal.
- Speculation about further OPEC+ Crude supply hikes from April is keeping rallies muted for now.
Crude Oil prices are trimming some of Tuesday’s losses on Wednesday, reaching session highs near $62.50 per barrel, after bouncing from two-week lows at $61,76. Investors are starting to reassess the chances of a US-Iran deal after the second round of conversations ended without any tangible advance
The Iranian foreign minister, Abbas Araghchi, affirmed after the end of the negotiations that both sides had reached an agreement on a “set of guiding principles” and that the parties will exchange drafts on a potential deal.
American officials did not make comments, but the New York Times has cited a US source, affirming that progress has been made and that the Iranians pledged to deliver detailed proposals in the next two weeks to advance in the negotiations.
The lack of specific details about the progress, however, is making markets doubt. The stakes are high, with a significant US maritime force deployed in the area, and the risk of the closure of the Strait of Hormuz is looming. Hormuz is a bottleneck for 20 to 25% of global Oil supply transport, and its closure would trigger a sharp escalation in prices.
Meanwhile, news that OPEC+ countries contemplate resuming supply hikes from April, bracing for an increase in demand during the Western summertime, is keeping rallies limited for now.
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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