Oil Prices Climb as Supply Risks and Trade Moves Stir Markets

Crude oil climbed to $64.58 per barrel on February 10, 2026, marking a third straight gain. Ongoing US-Iran tensions, warnings over the Strait of Hormuz, and uncertainty around India’s Russian oil imports are keeping markets cautious.

Oil prices rise amid global tensions

Crude oil prices moved higher on February 10, 2026, as markets reacted to fresh global tensions and supply concerns. Crude oil was trading at 64.58 US dollars per barrel, up 0.34% from the previous day, according to Trending Economics. The rise also marked the third straight session of gains for WTI crude futures, showing steady upward momentum in the short term.

Monthly rise but still lower than last year

Data shows that crude oil prices have increased 8.53% over the past month. However, despite this recent climb, prices remain 11.92% lower than the same period last year. The figures come from trading based on a contract for difference (CFD) that tracks the benchmark crude market.

Historically, crude oil once reached an all-time high of 410.45 in December 2025. The latest update for crude oil data and charts was recorded on February 10, 2026.

US-Iran tensions keep markets cautious

One of the key reasons behind the latest price rise is ongoing tension between the United States and Iran. Even though both sides described recent talks in Oman as positive, uncertainty still remains over a final breakthrough.

Iran has continued to insist on maintaining uranium enrichment, which is a major concern for the US. On Monday, the US also issued a warning asking American-flagged ships to avoid Iranian waters while passing through the Strait of Hormuz, a very important route for global oil supply.

These developments have made investors cautious, as any disruption in this region can quickly affect oil shipments and push prices higher.

India’s Russian oil purchases under watch

Markets are also closely tracking India’s crude oil imports from Russia. Reports suggest that a recent US trade deal with India has been linked to a possible freeze on Russian oil imports.

India is one of the largest buyers of Russian crude. If purchases slow down or stop, global supply could tighten. This situation may further support oil prices in the coming weeks.

Why oil prices matter for the global economy

Oil prices affect fuel costs, transport, and inflation across many countries. When prices rise due to geopolitical risks or supply worries, it can impact everyday expenses and business operations. With tensions still unresolved and supply questions hanging, traders expect oil markets to remain sensitive to global political and trade developments.