Crude oil hot due to Iran’s maneuvers in the Strait of Hormuz, Brent crude reached near $69:

New Delhi. Crude oil prices are once again showing an upward trend in the global market. Just before the important talks between America and Iran on Tuesday, Iran’s Revolutionary Guards Naval drills conducted near the Strait of Hormuz have increased geopolitical risks. This stressful environment has had a direct impact on oil prices, due to which Brent crude is now $69 per barrel Is moving towards touching the level of.

Movement in the Strait of Hormuz: Why is the market scared?

According to Iran’s semi-official news agency ‘Tasnim’, Iran’s Revolutionary Guard is conducting military drills in the areas around the Strait of Hormuz.

Strategic Importance: This waterway is one of the most important oil corridors in the world, through which almost all of the global oil supply is transported. a fifth passes.

Impact on prices: Brent crude prices fell on Monday due to fear of any possible disruption in the supply chain. more than 1% A rise of Rs. 1.50 crore was recorded and it closed near $69. At the same time, the American benchmark West Texas Intermediate (WTI) also $64 per barrel Is built close to.

Trump’s ‘indirect’ interference and Geneva talks

us President donald trump have indicated that they will be indirectly involved in the talks with Iran. According to Trump, “Iran wants a new deal.”

Abbas Araghchi’s strategy: The Iranian Foreign Minister has met the head of the United Nations Atomic Watchdog (IAEA). He was the US Special Envoy on Tuesday Steve Witkoff Some new proposals are going to be put forward.

Marco Rubio’s hope: US Secretary of State Marco Rubio has also expressed hope that the years-long tension between Tehran and Washington can be ended through talks.

Russia-Ukraine peace talks: great brainstorming in Geneva today

The oil market is eyeing another major meeting in Geneva today, where representatives of Russia and Ukraine will face each other to end the four-year-old war. However, analysts believe that there is little hope of Russian barrel returning to the market so soon, yet the beginning of talks has put the market in a ‘wait and watch’ situation.

Current status of crude oil (17 February 2026)

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