MW Crude moves higher as Netanyahu visits Washington

By Steve Goldstein

Oil futures rose on Wednesday.

Crude oil futures rose on Wednesday, extending a move off recent lows as traders assess the likelihood the U.S. will attack oil producer Iran as well as the impact of India shying away from Russian oil.

Down on Tuesday, the WTI grade of crude futures (CL00) rose over 1% to $64.90 per barrel, and is now up 17% from its mid-December lows.

Brent (BRN00) rose close to $70 per barrel.

The move in oil comes as Israeli Prime Minister Benjamin Netanyahu is visiting Washington, in which he's expected to urge a tough line on Iran. Netanyahu on Tuesday said Israel would present its perceptions of the principles of U.S. talks with Iran on its nuclear program, according to the Financial Times.

Crude also has been helped of late from Kazakhstan's production difficulties at the key Tengiz oil field and India moving away from Russian oil after reaching a trade deal with the Trump administration.

Commerzbank analyst Carsten Fritsch said there isn't an obvious buyer for Russian oil that could take on India's consumption, which was between 1.1 million and 1.2 million barrels per day as of December.

"The only real option is China, but it has also recently reduced its purchases of Russian oil slightly. A significant expansion of purchases is therefore difficult to imagine," said Fritsch.

-Steve Goldstein

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February 11, 2026 05:53 ET (10:53 GMT)

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