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Oil prices edge up on US-Iran tensions

Thursday, 5 February 2026



LONDON, Feb 04 (Reuters): Oil prices steadied on Wednesday after rising earlier in the session after the US shot down an Iranian drone and armed Iranian boats approached a US-flagged vessel, rekindling fears of an escalation in tensions ahead of planned talks.
But a broader selloff of software equities, which often move in tandem with oil prices, capped gains.
Brent crude oil futures were up around 0.1 per cent at $67.38 a barrel by 1423 GMT. US West Texas Intermediate crude was down 2 cents at $63.19.