Oil Prices Hold Steady Ahead of Crucial US and Iran Nuclear Talks

Oil prices were little changed on Monday as investors weighed two main forces: the upcoming second round of talks between the United States US and Iran IR in Geneva and expected OPEC+ plans to resume output increases. The market remains in a holding pattern as participants evaluate the potential for diplomatic progress regarding Tehran's nuclear programme against the prospect of higher global supply.

The second round of U.S.–Iran talks is scheduled to take place in Geneva and is imminent, with sessions noted as occurring on Tuesday. Simultaneously, the global oil market is monitoring OPEC+, which is leaning toward resuming output increases. A formal decision is expected on March 1, with the increases slated to begin in April if approved. These developments are unfolding while market activity is muted by the Lunar New Year holidays across China CN, South Korea KR, and Taiwan TW, as well as the Presidents Day holiday in the American market.