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Oil prices pushed sharply higher Wednesday after the U.S. said the use of military force against Iran remained an option following a lack of a breakthrough in talks over Tehran’s disputed nuclear program.
U.S. crude futures CL00 CLJ26 rose more than 4.5%, or $2.79, settling at $65.05 a barrel, the biggest daily jump since Oct. 23, for the most-active contract, according to Dow Jones Market Data. That put West Texas Intermediate crude close to its highest level of 2026, as well as in the upper end of the range in recent months when fears of another U.S. strike against Iran have been acute.
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