# Oil prices settle at 7-week high on worries about Iran exports | Reuters

> Oil prices settled at seven-week highs on Monday on worries that Iranian exports could decline as the government cracks down on anti-government demonstrations. Expected supply increases from Venezuela limited the gains, and Ukrainian attacks on Russian energy sites added to supply concerns.

- Date: 2026-01-12 · published 2026-01-12T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/11391-oil-prices-settle-at-7-week-high-on-worries-about-iran-exports-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Potential losses of Iranian and Russian barrels support crude prices, which raises diesel and transport costs for feed buyers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-01-14 | 5 | +11.8% | 3.2 | Brent settled at a seven-week high on Jan 12 on fears of lower Iranian exports and Ukrainian attacks on Russian energy sites, adding to the week's rally. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-12-13 | [Oil up 2%, settles at 3-week high as more sanctions loom on Russia, Iran \| Reuters](https://feedsoft.ai/events/27116-oil-up-2-settles-at-3-week-high-as-more-sanctions-loom-on-russia-iran-reuters.md) | -0.2% | +11.4% |
| BRENT | 2026-05-17 | [Oil prices rise 3% to two-week high on Iran war supply concerns \| Reuters](https://feedsoft.ai/events/19430-oil-prices-rise-3-to-two-week-high-on-iran-war-supply-concerns-reuters.md) | -5.7% | -24.9% |
| BRENT | 2025-03-31 | [Oil prices climb 2% to five-week high on Russia, Iran supply worries](https://feedsoft.ai/events/25748-oil-prices-climb-2-to-five-week-high-on-russia-iran-supply-worries.md) | -9.7% | -11.0% |
| BRENT | 2026-08-31 | [Oil prices settle up more than $4 a barrel on renewed US-Iran fighting \| Reuters](https://feedsoft.ai/events/17635-oil-prices-settle-up-more-than-4-a-barrel-on-renewed-us-iran-fighting-reuters.md) | +10.8% | +22.9% |
| BRENT | 2026-09-07 | [Oil prices rise to six-week highs on worsening Middle East conflict \| Reuters](https://feedsoft.ai/events/17631-oil-prices-rise-to-six-week-highs-on-worsening-middle-east-conflict-reuters.md) | +12.0% | +18.6% |
| WTI | 2024-12-13 | [Oil up 2%, settles at 3-week high as more sanctions loom on Russia, Iran \| Reuters](https://feedsoft.ai/events/27116-oil-up-2-settles-at-3-week-high-as-more-sanctions-loom-on-russia-iran-reuters.md) | -0.2% | +13.0% |
| WTI | 2026-05-17 | [Oil prices rise 3% to two-week high on Iran war supply concerns \| Reuters](https://feedsoft.ai/events/19430-oil-prices-rise-3-to-two-week-high-on-iran-war-supply-concerns-reuters.md) | -8.1% | -22.7% |
| WTI | 2025-03-31 | [Oil prices climb 2% to five-week high on Russia, Iran supply worries](https://feedsoft.ai/events/25748-oil-prices-climb-2-to-five-week-high-on-russia-iran-supply-worries.md) | -10.5% | -9.7% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-climbs-intensifying-unrest-iran-spark-supply-concerns-2026-01-12/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.