Oil prices climbed Friday as Middle East supply concerns escalated following stalled nuclear talks with Iran. Brent crude rose 2.8% to $72.79 per barrel while West Texas Intermediate gained 2.7% to $66.94. Both contracts were positioned for solid monthly gains, with Brent on track for a 5% climb this February as geopolitical tensions weighed on markets.

President Donald Trump expressed dissatisfaction with Iran's negotiating approach, stating he hadn't made a final decision on the country yet. Analysts warned the market is pricing in a $10/bbl risk premium amid uncertainty over potential military action. Technical-level negotiations will resume next week in Vienna, though both sides remain far from an agreement on Tehran's nuclear ambitions.

Adding complexity to the oil market, Venezuela's oil sales under a recent U.S. deal are expected to reach $2 billion by month-end. The country's return to global markets represents a significant supply increase that could eventually pressure crude prices. OPEC may also release additional production to offset potential disruptions from ongoing Middle East tensions.