Crude Oil Prices Hold Gains on February 10, Amid Rising Middle East Tensions

Crude oil prices continued to rise as tensions in the Middle East heightened, particularly around Iran, a key OPEC member. West Texas Intermediate (WTI) traded above $64 a barrel, building on a 1.7% increase over the previous two sessions.

Brent crude also strengthened, closing near $69. The upward movement followed new warnings from the US advising American‑flagged vessels to avoid Iranian waters in the Strait of Hormuz.

Geopolitical Tensions Drive Risk Premium

Iran’s central role in OPEC and its strategic geographical position contributed to heightened market sensitivity. The US government advised its commercial vessels on Monday to maintain a significant distance from Iranian waters when navigating the Strait of Hormuz.

This guidance emerged even as diplomatic engagements between the US and Iran showed signs of advancement. The region has a long history of volatility affecting energy markets, and traders responded by pricing in additional risk.

Importance of the Strait of Hormuz

The Strait of Hormuz is regarded as one of the world’s most critical maritime corridors for oil transportation. It connects several leading Middle Eastern producers with major global markets, especially in Asia.

During earlier periods of political tension, Tehran has threatened to restrict or close the passage, prompting concerns among global energy stakeholders. Although such threats have never materialised, the potential disruption remains a consistent market worry.

Recent Price Performance and Market Conditions

WTI’s rise above $64 and Brent’s close near $69 underscored the sustained momentum seen this year. Crude prices have been trending upward as recurring geopolitical flare‑ups overshadowed concerns about a potential global supply surplus.

Market participants observed that these tensions have often outweighed inventory‑related pressures. Despite expectations of increasing stockpiles, the geopolitical risk premium has been strong enough to support prices.

Data Releases Expected to Influence Trading

A series of market updates scheduled for this week is expected to offer traders fresh insights into current conditions. The first of these is an update from the official US energy forecaster, due later on Tuesday.

Such data releases typically provide clarity on production levels, demand trends and inventory status. Traders often adjust their positions based on these assessments, making the reports important short‑term market drivers.

Read More: Stocks to Watch on Feb 10, 2026

Conclusion

Crude oil prices have held their recent gains as tensions centred on Iran contributed to a higher risk premium in global energy markets. WTI remaining above $64 and Brent near $69 reflect how geopolitical uncertainties continue to influence pricing.

The strategic importance of the Strait of Hormuz remains a pivotal factor in trader sentiment. With upcoming market data expected to offer additional clarity, crude prices may continue reacting to both geopolitical and fundamental cues.

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