Global oil prices fall as upcoming nuclear talks and new US tariffs impact market sentiment

Oil prices fell on Monday as upcoming nuclear talks eased conflict fears. New US tariff hikes also sparked concerns about global growth and fuel demand.

洞察:
Oil prices fell about 1% on Monday, February 23, 2026, as the United States USUS and Iran IRIR prepared for a third round of nuclear talks in Geneva. The imminent third round, which is set for Thursday, eased immediate fears of an escalating conflict and reduced the Iran-related risk premium that had been priced into crude markets. Brent crude futures and U.S. West Texas Intermediate (WTI) crude futures both saw declines as the diplomatic news reached the market.
FILE PHOTO: Oil platforms and pumpjacks at Lake Maracaibo, in Cabimas, Venezuela, January 26, 2026. REUTERS/Leonardo Fernandez Viloria/File Photo
FILE PHOTO: Oil platforms and pumpjacks at Lake Maracaibo, in Cabimas, Venezuela, January 26, 2026. REUTERS/Leonardo Fernandez Viloria/File Photo
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