US-Iran Nuclear Talks in Geneva End Without Deal
Analysis based on 55 articles · First reported Feb 26, 2026 · Last updated Feb 27, 2026
The ongoing nuclear talks between Iran and the United States, coupled with heightened military readiness in the Middle East, have led to increased volatility in oil markets, with Brent Crude prices rising to around $70 a barrel. The potential for military conflict and Iran's threats to disrupt oil traffic in the Strait of Hormuz pose significant risks to global energy supply and prices.
Indirect nuclear talks between Iran and the United States were held in Geneva, mediated by Oman, to address Iran's nuclear program and avert a potential war. U.S. President Donald Trump seeks a deal to constrain Iran's nuclear activities, missile program, and support for regional armed groups like Hamas and Hezbollah. Iran, facing internal dissent and a damaged nuclear program from previous strikes by Israel and the U.S., insists on its right to enrich uranium for peaceful purposes and refuses to discuss non-nuclear issues. Despite 'significant progress' reported by Oman's Foreign Minister Badr al-Busaidi, no immediate deal was reached, and technical talks are set to continue. The U.S. has deployed a large naval and air fleet to the Middle East, and Iran has threatened to retaliate against U.S. bases and Israel if attacked, raising fears of a devastating regional conflict. U.S. intelligence assesses Iran is positioning itself to produce a nuclear device if it chooses, while Iran has blocked IAEA inspectors from bombed sites and previously ramped up uranium enrichment to 60% purity.
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