Oil Prices Take a Breather Amid Iran Tensions

Oil has pulled back slightly after surging for four consecutive days. Traders are keeping a close eye on what the U.S. might do next about the situation in Iran, and it's got everyone wondering if supplies could get squeezed.

Over the weekend of January 10-11, 2026, protests erupted across Iran. Iran's oil output sits at about 3.3 million barrels a day, so any real disruption there could send prices soaring again. On the U.S. side, President Donald Trump ramped things up on January 13 while speaking in Detroit. He urged Americans in Iran to get out and hinted at support for the protesters.

Trump even floated a 25% tariff on countries trading with Iran, which alarmed markets over broader trade concerns. But then Iran claimed everything was under control, and news of Venezuela restarting some oil exports helped calm fears of short supplies.

Brent crude slipped to around $65 a barrel, and West Texas Intermediate hovered just under $61. It's crazy how politics on the other side of the globe slams our wallets so hard, it'll make you rethink that next road trip. Still, amid high tensions, prices could reverse sharply if the situation escalates. All in all, this dip feels like a pause, not the end. Keep watching; oil's story is far from over.

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