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Oil prices edge higher as traders gauge US-Iran nuclear deal outlookWest Texas Intermediate traded around $66 a barrel, while Brent settled below $71.By CNBCTV18.com February 25, 2026, 6:29:13 AM IST (Published)2 Min ReadOil prices increased as traders gauged the odds of a US-Iran nuclear agreement ahead of talks on Thursday.

However, a huge deployment of US forces in the Middle East is what kept markets on edge.

West Texas Intermediate traded around $66 a barrel, while Brent settled below $71.

US Secretary of State Marco Rubio and the director of the Central Intelligence Agency briefed senior lawmakers about Iran on Tuesday as the military build-up fueled speculation of an attack.

US President Donald Trump said this week his preference was for diplomacy, but warned no deal would be “very bad” for Tehran. The market has been sensitive to headlines tied to a potential conflict, with oil rallying at the start of the year, despite widespread expectations swelling supplies would weigh on prices.

The Trump administration has ordered the biggest military buildup in the Middle East since the second Gulf war in 2003, including two aircraft carriers. The US is adding even more assets to the region, deploying 12 stealth F-22 fighter jets to Israel, according to CNN, which cited a defense official.

Should hostilities escalate, Tehran could retaliate by disrupting shipping through the Strait of Hormuz, which handles about a quarter of the world’s seaborne oil trade. Tankers carrying liquefied natural gas also transit through the narrow waterway separating Iran and the Arabian Peninsula.

The next round of nuclear talks between the US and Iran are set for Thursday in Geneva. Trump’s special envoy Steve Witkoff and his son-in-law Jared Kushner are slated to meet again with Iranian Foreign Minister Abbas Araghchi.

With inputs from Bloomberg

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