WTI slips to near $63.50 as OPEC+ mulls output hike, US-Iran talks loom
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West Texas Intermediate (WTI) Oil price edges lower after registering over 1.5% gains in the previous session, trading around $63.50 during the Asian hours on Tuesday. Crude Oil prices may remain under pressure due to oversupply concerns. OPEC+ (Organization of the Petroleum Exporting Countries and allies) is leaning toward resuming output increases from April after a three-month pause, in preparation for peak summer demand, per Reuters. Trading activity in Asia may stay subdued, with markets in China, Hong Kong, Singapore, Taiwan, and South Korea closed for Lunar New Year holidays. However, Oil prices may regain ground amid mounting supply risks as tensions escalate between the United States (US) and Iran ahead of renewed nuclear talks in Geneva. Tehran conducted maritime drills in the Strait of Hormuz, which accounts for roughly 20% of global Oil shipments, after Washington deployed a second aircraft carrier to the region. Iran’s atomic chief signaled Tehran could dilute its most highly enriched uranium in exchange for a full lifting of financial sanctions. Meanwhile, US President Donald Trump said he would be involved “indirectly” in the Geneva talks, expressing confidence that Tehran is willing to reach an agreement. At the same time, US-led discussions between Russia and Ukraine are set to begin Tuesday, though markets remain skeptical about any near-term diplomatic breakthrough. WTI Oil FAQs WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It…
Filed under: News - @ February 17, 2026 3:24 am