Crude Edges Higher as Iran Unrest Raises Supply Fears

I Stock

Oil prices.

Oil prices continued to edge higher on Monday, 12 January 2026, as mounting concerns that escalating protests in Iran could disrupt supplies from the OPEC member put upward pressure on the market. However, expectations that Venezuelan oil exports may resume soon have helped temper significant price rises. 

By early trading, Brent crude futures were trading up modestly around the low $60s per barrel, while US West Texas Intermediate also recorded small gains. Both benchmarks have risen more than 3 per cent in the past week — their strongest weekly advance since October — as unrest in Iran has intensified. 

Analysts have warned that calls for oil workers to down tools amid the protests could put as much as 1.9 million barrels per day of Iranian exports at risk, reinforcing supply concerns. 

At the same time, moves to quickly restore Venezuelan crude shipments — including plans for up to 50 million barrels of previously sanctioned oil to be delivered to the United States — have limited how far prices have climbed. 

Market sentiment remains cautious, with traders balancing geopolitical risks against the prospect of additional oil entering the global market.


PUKMEDIA