LONDON (Feb 18): Oil prices gained over 1% on Wednesday after falling in the previous session as investors assessed developments in Russia-Ukraine and US-Iran talks. Keeping a risk premium on prices was the abrupt end of peace talks between Ukraine and Russia in Geneva on Wednesday after only two hours. Ukrainian President Volodymyr Zelenskiy said that the discussions had been difficult and accused Russia of deliberately seeking to delay progress towards a deal to end the four-year-old war. Russia's chief negotiator Vladimir Medinsky said the talks had been difficult but business-like, and that a new round of talks would be held soon. Analysts polled by Reuters estimated that US crude oil stockpiles likely rose last week, while distillate and gasoline inventories probably fell.

Source: The Edge Markets February 18, 2026 12:00 UTC