Oil Steady With Focus on Geopolitical Risk Before Iran Talks

Oil was little changed at the start of the week, as traders monitored geopolitical risk before talks between the US and Iran resume on Tuesday.Author of the article:You can save this article by registering for free here. Or sign-in if you have an account.(Bloomberg) — Oil was little changed at the start of the week, as traders monitored geopolitical risk before talks between the US and Iran resume on Tuesday.Subscribe now to read the latest news in your city and across Canada.Subscribe now to read the latest news in your city and across Canada.Create an account or sign in to continue with your reading experience.Create an account or sign in to continue with your reading experience.Brent traded below $68 a barrel, after its first back-to-back weekly drop this year, while West Texas Intermediate was near $63. US President Donald Trump said Friday that regime change would be the best outcome for Iran, ratcheting up pressure ahead of the negotiations in Geneva.Oil has rallied more than 11% this year as escalating tensions with Iran — and potential supply disruptions in a region that pumps about a third of the world’s crude — outshone concerns over a building glut. Futures have pared some of those gains as the risk of an imminent strike faded and after the International Energy Agency trimmed its demand growth forecast for this year.Meanwhile, US-led talks to end the war in Ukraine are also scheduled to start in Geneva on Tuesday, though the prospects of a speedy end to the almost four-year-old conflict and the return of Russian barrels look slim. Drone strikes on the Black Sea coast over the weekend damaged infrastructure at Taman seaport and fuel tanks.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Elsewhere, some OPEC+ members said they see scope to resume output increases in April, believing glut concerns are overblown, although the group hasn’t committed to action ahead of its March 1 meeting. The ultimate decision may depend on whether Trump launches military strikes against — or reaches a nuclear deal with — OPEC member Iran, one delegate said.Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information.365 Bloor Street East, Toronto, Ontario, M4W 3L4© 2026 Financial Post, a division of Postmedia Network Inc. All rights reserved. Unauthorized distribution, transmission or republication strictly prohibited.This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.You can manage saved articles in your account.and save up to 100 articles!You can manage your saved articles in your account and clicking the X located at the bottom right of the article.