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Crude Oil prices Fall as Iran Protests Subside
LONDON, January 19, 2026 – Crude oil prices declined by 1%, reversing gains from the previous session, as protests in Iran have calmed, reducing the likelihood of a U.S. intervention that could disrupt supply from the major Middle Eastern producer.
As of 10:30 AM Italian time, Brent crude was trading at $63.44 per barrel, down 69 cents, or 1.1%. West Texas intermediate (WTI) crude for February, expiring tomorrow, fell 58 cents, approximately 1%, to $58.86 per barrel. The more active March contract traded at $58.73, down 61 cents, or 1%.
The Iranian goverment’s forceful suppression of protests sparked by economic hardship has reportedly resulted in a significant number of fatalities. Reuters reported that Iranian officials have stated approximately 5,000 people have died during the unrest.
U.S. President Donald Trump has signaled a de-escalation of previous threats of intervention, stating on social media that Iran had canceled planned mass executions of protestors, although Tehran has not officially confirmed any such plans. This declaration has lessened concerns about a potential U.S. military response that could disrupt oil flows from the fourth-largest OPEC producer.
U.S. markets are closed today for martin Luther King Jr. Day.
market participants are also monitoring developments regarding Venezuela’s oil fields. President Trump previously stated the U.S. would manage Venezuela’s oil industry following the capture of Nicolás Maduro, but confidence in a substantial increase in Venezuelan oil production remains low.