Brent Crude futures settle at $71.76/bbl, up 10 cents, 0.14%

Brent Crude futures settle at $71.76/bbl, up 10 cents, 0.14%

Brent Crude Futures Settle at $71.76/bbl, Reflecting Geopolitical Tensions and Inventory Shifts

Brent crude oil futures settled at $71.76 per barrel on February 20, 2026, rising 10 cents (0.14%) from the previous session. This follows a week of volatility, with prices nearing a six-month high amid escalating U.S.-Iran tensions and shifting supply dynamics.

The price increase coincided with heightened geopolitical risks, as U.S. President Donald Trump reiterated a 15-day deadline for Iran to reach a nuclear deal, while the U.S. military continued its largest buildup in the Middle East since 2003. Analysts noted that a potential conflict could disrupt oil flows through the Strait of Hormuz, a critical transit route for global crude exports. Iran, a key producer accounting for 3% of global output, has been a focal point of market concerns.

Simultaneously, U.S. crude inventories fell by 9 million barrels in the week ending February 14—the steepest decline since early September—further supporting prices. This data contrasted with expectations of a modest inventory increase, underscoring tightness in the global oil market.

Despite the recent gains, Brent crude remains 3.75% below its level from a year ago, according to contract for difference (CFD) data tracking the benchmark. Over the past month, however, prices have climbed 9.81%, reflecting renewed concerns over supply stability.

Looking ahead, analysts project Brent crude to trade at $68.59 per barrel by the end of the current quarter and $74.76 in 12 months, based on global macroeconomic models. These forecasts factor in ongoing geopolitical uncertainties, inventory trends, and broader energy market fundamentals.

For investors, the interplay of geopolitical risks and inventory shifts underscores the volatility inherent in the oil market. Continued monitoring of U.S.-Iran developments and OPEC+ policy adjustments will likely remain critical for near-term price direction.

(https://www.cmegroup.com/markets/energy/crude-oil/brent-crude-oil-last-day.quotes.html): Trading topic data.
(https://tradingeconomics.com/commodity/brent-crude-oil): Trading Economics, CME Group, and U.S. government data.