17:37 - 27.02.2026

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February 27, Fineko/abc.az. Negotiations between the U.S. and Iran have caused sharp volatility in the oil market. Amid the news about the dialogue, the price of Brent first fell more than by a dollar to $69 per barrel, then rose above $72 amid a pause in consultations, and after resuming negotiations, it fell back to around $70.

ABC.AZ informs that investors are assessing the possible impact of the negotiations on oil supplies. Iran is one of OPEC's largest producers and controls the strategic Strait of Hormuz, through which about a fifth of the world's oil supplies pass. Any escalation of the conflict could lead to export disruptions and a sharp spike in prices. Analysts note that the closure of the strait can provoke a large-scale energy crisis and a "historic" increase in quotations.

For the U.S., global oil prices are of critical importance: the cost of fuel directly affects inflation and the economic situation. Despite the high level of domestic production, the American market depends on global pricing. Under these conditions, Iran's geopolitical role is becoming an important factor in putting pressure on oil prices and strengthening its negotiating position.