WTI nears $67 ahead of renewed US- Iran nuclear talks

WTI crude oil futures edged higher toward $67 per barrel on Wednesday as markets priced in supply risks ahead of a third round of US?Iran nuclear talks, after Iranian officials signaled strong willingness to secure a deal. Gains were tempered by demand concerns linked to new US trade measures, with a 10% global tariff now in effect and plans to raise it further. On the supply side, API data showed US crude inventories jumped by 11.4 million barrels last week, reversing the prior draw. Attention now turns to the March 1 OPEC+ meeting, where the group is expected to resume output increases from April despite indications that the market may not require additional supply. Meanwhile, MCX March crude futures rose 0.23% to Rs 6022 per barrel.

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