Over the past 24 to 48 hours, WTI crude oil prices exhibited limited volatility, closing at $65.58 on February 25th, close to the previous day’s price. The market remained cautious as traders awaited the outcome of the upcoming U.S.-Iran talks scheduled later in the day, with prices fluctuating around the $66 mark. Despite an unexpectedly large build in U.S. crude inventories—typically bearish for prices—ongoing geopolitical tensions in the Middle East, particularly the potential impact of U.S.-Iran negotiations on supply chains, have provided support to oil prices.

According to recent market news, oil prices held near seven-month highs due to the ‘war premium’ factor. Traders widely anticipate that the negotiation results will drive short-term price direction. Although Iran has indicated willingness to take steps toward a deal, uncertainty remains high, prompting investors and traders to adopt a wait-and-see approach at current price levels.

To put it simply, the recent oil price movements resemble a cautious waiting game: inventory data has raised concerns of oversupply, yet political risks underpin prices. Investors are in a boat facing a storm—balancing the risk of large stock builds against the threat of renewed supply constraints from geopolitical developments.

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