By Laila Kearney Feb 20 - Oil prices were higher on Friday as concern of conflict between the U.S. and Iran ratcheted up, with Washington saying Tehran will suffer if it does not agree a deal about its nuclear activity within a matter of days.

As U.S. sanctions ease and oil money begins to trickle back after Nicolás Maduro's removal, Venezuelans weigh hopes for recovery against the harsh reality of surviving on wages that barely cover food.

March WTI crude oil (CLH26 ) today is up +2.06 (+3.30%), and March RBOB gasoline (RBH26 ) is up +0.0438 (+2.29%). Crude oil and gasoline prices are sharply higher today on geopolitical risks. The likelihood of the Russian-Ukrainian war continuing will keep restrictions on Russian crude and limit global

The oil patch defied expectations over the past year by weathering low crude prices with record-breaking production. But big drillers are preparing for a slowdown.

Here are key facts about international oil companies in Venezuela, a country with vast oil reserves but dilapidated energy infrastructure.

The Investment Committee debate the oil & gas sector as tensions rise in the middle east. CNBC’s Pippa Stevens joins ‘Halftime Report’ to discuss the latest news out of the oil markets.

Drones struck several sites in Russia overnight, including a major oil refinery in Krasnodar Krai, causing a large-scale fire and forcing temporary airport closures.

Libya’s 2025 licensing round offered 22 onshore and offshore blocks, attracted 44 applicants, with 37 companies pre-qualified – yet only 5 blocks were ultimately awarded in February 2026.