Oil Gains on U.S.-Iran Tensions: CL=+0.3% to $49.20/BLR (02-07-2026)

Brent crude futures rose to $49.20 per barrel at 19:00 UTC on February 7, 2026, adding 0.3% on the session. The price edged higher amid escalating tensions between the U.S. and Iran, with analysts noting heightened risk sentiment driving safe-haven demand for oil. The Organization of Petroleum Exporting Countries (OPEC) and its allies are monitoring the situation closely, with potential disruptions to supply routes expected to weigh on prices. Output from U.S. offshore rigs averaged 10.3 million barrels per day in the week ended January 29, 2026, according to EIA.