Oil jumps more than 2% after Vance says Iran ignored key U.S. demand, military strikes on the table
CNBC·2026-02-18 13:53
Oil prices rose more than 2% on Wednesday, after Vice President JD Vance said Iran did not address U.S. red lines in nuclear talks this week and President Donald Trump reserves the right to use military force.U.S. crude oil rose $1.56, or 2.5%, to $63.89 per barrel. Global benchmark Brent was up $1.61, or 2.4%, to $69.04 per barrel. U.S. envoys Steve Witkoff and Jared Kushner held nuclear talks with Iran in Geneva on Tuesday. Iran's Foreign Minister Abbas Araghchi described the discussions as "constructive, ...