Brent crude oil futures traded flat Friday morning after the US and Iran agreed to continue their talks next week.
At 9.54 am on Friday, May Brent oil futures were at $70.86, up by 0.03 per cent, and April crude oil futures on WTI (West Texas Intermediate) were at $65.31, up by 0.15 per cent. March crude oil futures were trading at ₹5,954 on Multi Commodity Exchange (MCX) during the initial hour of trading on Friday against the previous close of ₹6053, down by 1.64 per cent, and April futures were trading at ₹5,969 against the previous close of ₹6069, down by 1.65 per cent.
Third round of talks were held between the US and Iran in Geneva on Thursday on Iran’s nuclear programme. However, the talks ended without any breakthrough. Abbas Araqchi, Foreign Minister of Iran, and the US envoys Steve Witkoff and Jared Kushner were part of these talks.
In a post on X, Sayyid Badr Albusaidi, Foreign Minister of Oman, said: “We have finished the day after significant progress in the negotiation between the United States and Iran. We will resume soon after consultation in the respective capitals. Discussions on a technical level will take place next week in Vienna. I am grateful to all concerned for their efforts: the negotiators, the IAEA, and our hosts the Swiss government.” Oman is mediating the talks between the US and Iran.
Iran is one of the major producers of crude oil in the global markets.
March natural gas futures were trading at ₹258.20 on MCX during the initial hour of trading on Friday against the previous close of ₹257.10, up by 0.43 per cent.
Published on February 27, 2026
