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Crude oil futures end higher amid renewed geopolitical concerns

12 Feb 2026 Evaluate

Crude oil futures ended higher on Wednesday amid heightening tension between the U.S. and Iran, with Israel's intervention exacerbating the standoff. Traders remained cautious as data released by the American Petroleum Institute revealed that the U.S. crude oil inventories surged by 13.4 million barrels for the week ending February 6, reversing a 11.1-million-barrel draw in the prior week. According to the U.S. Energy Information Administration, for the week ending February 6, crude oil inventories in the U.S. jumped by 8.5 million barrels to 428.8 million barrels, above expectations of a 0.8-million-barrel build.   

Benchmark crude oil futures for March delivery rose $0.67 or 1.05% to settle at $64.63 a barrel on the New York Mercantile Exchange. Brent crude for April delivery increased $0.60 or 0.87% to settle at $69.40 a barrel on London's Intercontinental Exchange. 


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