Brent Fluctuates as Traders Assess Iran's Situation

2026-01-16 01:02 By Judith Sib-at 1 min. read

Brent crude oil futures fluctuated around $63 per barrel on Friday, shifting between small gains and losses, as traders continued to monitor developments in Iran.

Prices slid more than 4% on Thursday after President Trump has temporarily pulled back from threats to strike Iran, saying that he had been assured that no further killings would occur and that executions would not proceed.

Trump also said on Thursday that he had been informed that Iran’s crackdown on protests was easing.

Israel and other Middle Eastern allies reportedly asked the US to delay any military action amid fears that Iran would retaliate by striking their countries.

These reduced the perceived risk of an imminent conflict that could disrupt Iranian oil production or key shipping routes in the region.

However, analysts noted that while tensions have subsided, the risk remains, keeping the market on edge in the short term.

Oil is set to finish the week little changed after three consecutive weeks of gains.



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