Iran requests nuclear talks with the U.S. in Oman as diplomatic efforts intensify amid escalating regional tensions and military buildup in the Middle East.

Nuclear talks between the United States and Iran are expected to take place in Oman on Friday. While talks are expected to proceed, officials on both sides have indicated that continued provocations could still affect the course of negotiations.

The oil market got another boost from a bullish inventory report from the American Petroleum Institute (API). The numbers show that US crude oil inventories fell by 11.1m barrels over the last week, significantly larger than the roughly 640k barrel draw the market was expecting.

US-Iran tensions and bullish inventory data drive oil price gains. Escalation risks an asymmetric $15+ price surge, says Rystad Energy.

The White House says talks between the U.S. and Iran are still planned, despite incidents escalating tensions Tuesday.

Iran examines regional proposals to ease tensions with the US as it expects a framework for talks in the coming days.

Fox News senior foreign policy correspondent Gillian Turner reports on Iran’s recent military and diplomatic actions ahead of talks with the U.S. on ‘Special Report.’

By Ishaan Arora Feb 4 (Reuters) - Gold prices extended gains on Wednesday on safe-haven appeal, as renewed geopolitical tensions between the U.S. and Iran added to the yellow metal's recent upswing that saw it mark its best day since 2008 in the previous session.

In a series of posts on X on Sunday, Iran's Supreme Leader Ayatollah Khamenei said, “The Americans should know if they start a war, this time it will be a regional war.” US President Donald Trump reacted to his comments.