# Oil prices hold steady after back-to-back weekly drop

By Matt Britzman — 2026-02-16

Matt Britzman, senior equity analyst at Hargreaves Lansdown, said: “Oil prices were steady this morning, with Brent hovering around $67.70 a barrel, as investors juggle rising geopolitical tension against a market that still looks well supplied.

“Talks between the US and Iran resume tomorrow, keeping traders on edge given the risk of escalation, while fresh Russia-Ukraine discussions are unlikely to unlock much extra oil anytime soon.

“Even so, prices are struggling to lift as OPEC+ debates adding more supply and the IEA flags a growing surplus and softer demand growth ahead.”

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