Crude Oil Prices Remain Elevated on Jan 30, 2026 Amid Rising Geopolitical Tensions

Oil markets have continued to trade close to multi-month highs, driven largely by geopolitical uncertainty in the Middle East.

Renewed tensions between the United States and Iran have increased concerns about possible supply disruptions, particularly involving Iranian exports and key shipping routes.

At the same time, a mix of weather events, operational outages and policy changes in major producing countries has influenced market sentiment.

Market Performance And Recent Price Movements

Crude benchmarks eased slightly in early Asian trading but remained close to recent peaks. Both Brent and West Texas Intermediate are on track for their first monthly gains in half a year, reflecting stronger risk sentiment rather than immediate changes in physical supply.

Geopolitical Risks And Middle East Tensions

Market participants have priced in additional risk following statements from Washington warning Tehran over its nuclear programme.

Expectations Around Potential Military Action

Several banks expect any military response, if it occurs, to be limited in scope. Current assessments suggest efforts would likely avoid direct damage to oil production or export facilities, given broader economic considerations and political sensitivities.

Supply Disruptions Outside The Middle East

Temporary outages in Kazakhstan, Russia and Venezuela have collectively reduced global supply in recent weeks. Extreme winter weather in the United States has also constrained output, while technical incidents have affected production at major fields, adding to short-term tightness in the market.

Venezuela’s Policy Shift And Sanctions Relief

Political change in Venezuela has led to reforms of the country’s oil legislation, alongside a partial easing of US sanctions. These developments could support higher output and renewed investment over time, although near-term gains remain uncertain.

Read More: KPI Green Energy Share Price In Focus; Begins Power Supply From 200 MW Solar Project Awarded By GUVNL.

Conclusion

Overall, oil prices continue to reflect a balance between geopolitical risk and expectations of limited long-term disruption.

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