Oil prices continue to rise amid fears of supply disruptions from Iran

  • January 13, 2026
  • Posted by: EWGFX
  • Category: news
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Brent and WTI crude futures rose on Tuesday. This comes amid escalating protests in Iran and potential US intervention, outweighing prospects for increased oil supplies from Venezuela.

Oil prices continued to rise on Tuesday amid fears about Iran and potential supply disruptions outweighing the prospect of increased oil supplies from Venezuela, UNN reports with reference to Reuters.

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Brent crude futures rose 22 cents, or 0.3%, to $64.09 a barrel by 04:30 GMT (06:30 Kyiv time), nearing a two-month high reached in the previous session. U.S. West Texas Intermediate crude rose 23 cents, or 0.4%, to $59.73.

“The price increase comes amid escalating protests in Iran, which raises the likelihood of some form of intervention from the United States,” ING commodity strategists said on Tuesday.

Iran, one of the largest oil producers in the Organization of the Petroleum Exporting Countries (OPEC), has faced its largest anti-government demonstrations in years, prompting warnings from U.S. President Donald Trump of possible military intervention over deadly violence against protesters.