Oil Trades Higher Amid Iran, Venezuela Uncertainty

2026-01-11 23:26 By Farida Husna 1 min. read

WTI crude oil hovered around $59.36 per barrel on Monday, rising for the third session, as market attention remained on developments in Iran and Venezuela, which continued to underpin supply-side uncertainty.

In Iran, nationwide demonstrations, the largest since 2022-23, kept traders cautious amid concerns that any escalation could disrupt exports from the region.

Meantime, uncertainty around Venezuela’s crude shipments persisted, as changes in U.S.

policy and sanctions clouded the outlook for its oil flows, adding to broader supply risks.

Last week, oil prices posted solid gains, supported by geopolitical risk premiums.

Yet upside momentum was capped by weak demand signals and ample inventories.

Oil markets remain balanced between risks that support prices and structural headwinds from sluggish demand growth and elevated supply.

Market participants are closely monitoring economic data, inventory reports, and producer signals to gauge near-term direction.



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