Crude oil futures traded higher on Wednesday morning despite encouraging talks between the US and Iran regarding Iran’s nuclear programme.
At 9.57 am on Wednesday, April Brent oil futures were at $67.66, up by 0.36 per cent, and April crude oil futures on WTI (West Texas Intermediate) were at $62.43, up by 0.27 per cent.
February crude oil futures were trading at ₹5666 on Multi Commodity Exchange (MCX) during the initial hour of trading on Wednesday against the previous close of ₹5642, up by 0.43 per cent, and March futures were trading at ₹5684 against the previous close of ₹5662, up by 0.39 per cent.
In a post on social media platform X on Tuesday, Badr Albusaidi, Foreign Minister of Oman, said: “Today’s indirect negotiations between the Islamic Republic of Iran and the United States of America in Geneva concluded with good progress towards identifying common goals and relevant technical issues. The spirit of our meetings was constructive. Together we made serious efforts to define a number of guiding principles for a final deal. The contribution of the IAEA Director General Rafael Grossi was much appreciated. Much work is yet to be done, and the parties left with clear next steps before the next meeting.”
Oman is mediating the talks between the US and Iran. The talks between the two nations were held amid Iran announcing a temporary closure of part of the Strait of Hormuz for military drills.
February zinc futures were trading at ₹320.95 on MCX during the initial hour of trading on Wednesday against the previous close of ₹319.10, up by 0.58 per cent.
On the National Commodities and Derivatives Exchange (NCDEX), April turmeric (farmer polished) contracts were trading at ₹15430 in the initial hour of trading on Wednesday against the previous close of ₹15090, up by 2.25 per cent.
March jeera futures were trading at ₹22620 on NCDEX in the initial hour of trading on Wednesday against the previous close of ₹22345, up by 1.23 per cent.
Published on February 18, 2026
