Oman Nuclear Talks Drive Brent to $67, Setting Stage for Oil Volatility

Oman-based U.S.-Iran nuclear talks cooled oil markets, sending ICE Brent to $67 per barrel and setting up volatility as outcomes remain vague. The session ends with a potential weekly loss of more than 5% as uncertainty ahead—especially around upcoming tweets from President Trump—could trigger abrupt price swings. Supporting context: The EU’s 20th sanctions package, approved February 24, targets Russian oil maritime services, while US-BLM plans the first Alaska National Petroleum Reserve lease sale on March 9, offering 5.5 million acres. Saudi Aramco cut Asian formula prices by $0.30–$0.40/bbl for March cargoes, and European LNG imports hit a 2-Mtonne monthly record in January.