Oil prices rise as United States and Iran resume indirect talks in Oman

Saturday 07 February 2026 - 13:50

By: Dakir Madiha

Oil prices rise as United States and Iran resume indirect talks in Oman

Oil prices climbed on Friday as the United States and Iran held their first indirect negotiations since American forces struck Iranian nuclear facilities during last year’s June conflict. The discussions, hosted in Oman, ended with an agreement to continue talks, although deep divisions remain over their scope and objectives.

Brent crude settled higher by 0.74 percent at 68.05 dollars a barrel, while West Texas Intermediate futures hovered near 64 dollars a barrel, according to market data. Despite the daily gains, both benchmarks were on course for their first weekly decline since mid December, with Brent down 1.83 percent over the week as broader market sentiment softened.

The talks in Muscat were mediated by Oman’s foreign minister, who met separately with Iran’s foreign minister and a United States delegation led by the special envoy of President Donald Trump. The presence of a senior United States naval commander in formal uniform underscored the military backdrop to the diplomacy, with an American aircraft carrier and other warships positioned off Iran’s coast in the Arabian Sea.

Iranian officials described the marathon discussions, which stretched for nearly eight hours, as intensive but constructive, characterizing them as a positive opening conducted in a calm atmosphere. Trump echoed that assessment while speaking to reporters aboard Air Force One, calling the talks very good and suggesting that Iran appeared interested in reaching an agreement, with further negotiations expected early next week.

Progress remains constrained by sharp disagreements over the agenda. Tehran has insisted that discussions focus solely on its nuclear program, rejecting any attempt to broaden the talks. Washington, by contrast, has pressed to include Iran’s ballistic missile capabilities and its support for regional militant groups, while reiterating its demand that Iran move toward zero nuclear capability and warning that diplomatic avenues are not the only options available.

Energy markets continue to monitor the diplomatic process alongside the risk of renewed military escalation that could disrupt supplies through the Strait of Hormuz, a critical chokepoint handling roughly a quarter of the world’s seaborne crude oil. Analysts note that lingering skepticism over a breakthrough in the nuclear talks, combined with Iran’s refusal to halt uranium enrichment, has helped support oil prices even as fears of an immediate conflict have eased following confirmation that negotiations will continue.