Crude oil surges as Iran tensions escalate, raising risks to the Strait of Hormuz and fueling bullish oil outlook, supply fears, and trader speculation.
Futures are buoyed by geopolitical risk premiums despite estimates that the market ran a surplus of roughly 1.5 million barrels a day in 2025.
Brent crude futures, the global oil benchmark, on Thursday rose above $71 a barrel for the first time since late July, amid fears supplies could be compromised by a U.S. attack on Iran.

Morning Bid: Oil spoils tech tonic

06:43am, Thursday, 19'th Feb 2026
What matters in U.S. and global markets today
Russian President Vladimir Putin said the Kremlin considers the Trump administration's oil blockade on Cuba unacceptable. His comments came during a meeting with Cuban Foreign Minister Bruno Rodrígue
Oil was building on recent gains amid reports that the U.S. military could be preparing for a strike against Iran.
Hungary is considering cutting off power and gas exports to Ukraine unless Kyiv resumes Russian oil shipments to the country via the Druzhba pipeline, Prime Minister Viktor Orban's chief of staff told
In September, a rig used to drill wells in shallow waters completed the long trip from China to Venezuela's oil-producing region of Lake Maracaibo. The passage of the big old rig named Alula just inch
The threat of military action also helped push gold back above $5,000. U.S. stock futures were lower as traders weighed hawkish Fed minutes.
Maurel & Prom's teams in Venezuela are fully mobilised and ready for the next phases of development, its chief executive said on Thursday, after the U.S. added the French oil producer to a list of com
Oil prices rose on U.S.–Iran tensions and naval drills, but gains remain limited as supply expectations stay stable.

Dow Jones & Nasdaq 100: Iran Tensions Cap Gains

10:34pm, Wednesday, 18'th Feb 2026
US stock futures edge higher in the Asian session as AI concerns ease, while US-Iran tensions and Fed rate outlook cap gains for Dow Jones and Nasdaq 100.
Oil futures edged lower in the morning Asian session on a likely technical correction after futures rose sharply overnight.
Oil prices eased in early Asia trade on Thursday, following the previous day's 4% jump, as investors assessed efforts by the U.S. and Iran to resolve tensions while both sides have stepped up military
Marley Kayden and Sam Vadas turn headlines in Big Tech and beyond for their final takeaways. Among the unsung stories: crude oil's climb on geopolitical tensions and the FDA readying to review Moderna
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