TOKYO (Feb 19): Oil prices rose on Thursday as the US and Iran attempted to ease a standoff in talks over Tehran's nuclear programme while both sides heightened military activity in the key oil-producing region. "Oil prices are rallying as the market becomes increasingly concerned over the potential for imminent US action against Iran," said ING analysts in a Thursday note. "For oil markets, the concern is clearly what action would mean not only for Iranian oil supply, but also broader Persian Gulf oil flows, given the risk of disruption to shipments through the Strait of Hormuz." About 20% of the world's oil supply passes through the waterway. "US President Donald Trump does not want a sharp rise in crude prices, and even if military action occurs, it would likely be limited to short-term air strikes," Kikukawa added.

Source: The Edge Markets February 19, 2026 08:18 UTC