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18 April 2024

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Oil firmer as ebbing Iranian protests lower chance of US attack

19-01-2026 08:44 AM


Ammon News - Oil prices were up slightly on Monday, after the previous session's rise, as Iran's deadly crackdown on protests quelled civil unrest, narrowing chances for a U.S. attack on the major Middle Eastern producer that could disrupt supplies.

Brent crude was trading at $64.19 a barrel by 0327 GMT, up 6 cents or 0.09%.

U.S. West Texas Intermediate for February rose 9 cents, or 0.15%, to $59.53 a barrel. That contract expires on Tuesday and the more active March contract was at $59.39, up 5 cents, or 0.08%.

Iran's violent crackdown on protests spurred by economic hardship, which officials say killed 5,000 people, quelled the unrest.

Crude stocks were up by 3.4 million barrels in the week ended January 9, the EIA said last week, versus analysts' expectations in a Reuters poll for a 1.7 million-barrel draw.

Reuters




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