Crude oil prices today: Brent and WTI climb on U.S.-Iran tension as inventory report looms
LONDON, February 4, 2026, 11:42 GMT — Regular session. Oil prices climbed Wednesday after the U.S. downed an Iranian drone and Iranian gunboats neared a U.S.-flagged tanker, keeping tensions high in the Gulf. Brent crude futures added 46 cents, or 0.7%, reaching $67.79 a barrel by 1034 GMT. U.S. West Texas Intermediate crude rose 52 cents, or 0.8%, to $63.73. “Oil would be lower without Middle Eastern sabre-rattling,” said PVM analysts, as traders also digested a reported drop of over 11 million barrels in U.S. crude stocks last week from the American Petroleum Institute, ahead of official government figures due later Wednesday.