London, February 6, 2026 – U.S. crude oil futures continued to decline on Friday, as concerns over supply disruptions in the Middle East eased and investors focused on the anticipated results of U.S.-Iranian nuclear talks scheduled to take place later today in the Sultanate of Oman.
Brent crude futures fell by 50 cents, or 0.74%, to $67.05 per barrel, after having declined by 2.75% at settlement in the previous session.
The price of U.S. West Texas Intermediate crude reached $62.77 per barrel, down 52 cents or 0.82%, after closing down 2.84% on Thursday.
London
London is the capital of the United Kingdom, a historic city founded by the Romans as Londinium nearly 2,000 years ago. It has since grown into a global financial and cultural centre, with its history visibly layered through landmarks like the Tower of London, Westminster Abbey, and the modern London Eye.
U.S.
The United States is a federal republic founded in 1776 after declaring independence from Great Britain, established through a revolutionary war and the subsequent ratification of its Constitution. It grew from thirteen original colonies into a global superpower, with a history shaped by westward expansion, industrialization, and significant civil rights movements.
Middle East
The Middle East is a transcontinental region centered on Western Asia and Egypt, historically home to some of the world’s earliest civilizations, including Mesopotamia and Ancient Egypt. It is the birthplace of major Abrahamic religions—Judaism, Christianity, and Islam—and has been a central crossroads of trade, empire, and cultural exchange for millennia.
U.S.
The United States is a federal republic founded in 1776 after declaring independence from Great Britain, established through a revolutionary war and the subsequent adoption of its Constitution in 1787. It grew from thirteen original colonies into a global superpower, with a history shaped by westward expansion, industrial growth, and significant civil rights movements.
Iranian
Iran is a country in Western Asia with a rich history dating back thousands of years, being the heart of the ancient Persian Empire. Its cultural heritage includes significant contributions to art, literature, and architecture, exemplified by sites like Persepolis and Isfahan’s Naqsh-e Jahan Square.
Sultanate of Oman
The Sultanate of Oman is a nation on the southeastern coast of the Arabian Peninsula with a rich maritime history as a powerful trading empire. Its modern history is marked by the reign of Sultan Qaboos bin Said, who from 1970 until his death in 2020, transformed the country from an isolated state into a stable, modern nation.
Brent
Brent is a diverse borough in northwest London, historically known for its industrial past and the iconic Wembley Stadium, which was originally built in 1923. The area is also home to the Neasden Temple, a traditional Hindu mandir completed in 1995 that serves as a prominent cultural and religious site.
U.S. West Texas Intermediate
“U.S. West Texas Intermediate” (WTI) is not a place or cultural site but a grade of crude oil used as a major global pricing benchmark. It originated from oil fields primarily in Texas and is known for being light and sweet, making it ideal for refining into gasoline. The pricing point for WTI is physically located at Cushing, Oklahoma, a key hub for oil storage and trading.
