# Oil gains as market weighs Iran, Russia supply risks; dealmaking for Venezuela in focus | Reuters

> Oil prices rose 2% on Friday on supply worries tied to intensifying protests in Iran and escalating attacks in Russia's war in Ukraine. Rising global inventories and oversupply could limit further gains.

- Date: 2026-01-09 · published 2026-01-09T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/11393-oil-gains-as-market-weighs-iran-russia-supply-risks-dealmaking-for-venezuela-in
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Supply risk from Iran and Russia supports crude prices, but ample inventories suggest the rally may be hard to sustain.

## 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 | A 2% gain on Jan 9 on Iran protests and Russia-Ukraine escalation started the rally, lifting the base for the 5-day window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-02-13 | [Oil edges higher as market weighs Russian supply cuts amid demand fears \| Reuters](https://feedsoft.ai/events/37491-oil-edges-higher-as-market-weighs-russian-supply-cuts-amid-demand-fears-reuters.md) | -4.0% | -3.9% |
| BRENT | 2026-10-02 | [Oil rises slightly as market weighs mixed supply signals \| Reuters](https://feedsoft.ai/events/9316-oil-rises-slightly-as-market-weighs-mixed-supply-signals-reuters.md) | +7.5% | +9.7% |
| BRENT | 2019-09-16 | [Oil surges as Saudi attack focuses market on supply risks](https://feedsoft.ai/events/5707-oil-surges-as-saudi-attack-focuses-market-on-supply-risks.md) | +6.6% | -0.3% |
| BRENT | 2022-03-03 | [Oil slides from decade-highs as Iran talks kindle supply hopes \| Reuters](https://feedsoft.ai/events/10344-oil-slides-from-decade-highs-as-iran-talks-kindle-supply-hopes-reuters.md) | -1.8% | -1.2% |
| BRENT | 2026-03-09 | [Instant View: Oil surges 20% as Iran war fuels supply fears \| Reuters](https://feedsoft.ai/events/5573-instant-view-oil-surges-20-as-iran-war-fuels-supply-fears-reuters.md) | +9.5% | +25.6% |
| WTI | 2023-02-13 | [Oil edges higher as market weighs Russian supply cuts amid demand fears \| Reuters](https://feedsoft.ai/events/37491-oil-edges-higher-as-market-weighs-russian-supply-cuts-amid-demand-fears-reuters.md) | -4.3% | -6.3% |
| WTI | 2026-10-02 | [Oil rises slightly as market weighs mixed supply signals \| Reuters](https://feedsoft.ai/events/9316-oil-rises-slightly-as-market-weighs-mixed-supply-signals-reuters.md) | -1.5% | +5.6% |
| WTI | 2019-09-16 | [Oil surges as Saudi attack focuses market on supply risks](https://feedsoft.ai/events/5707-oil-surges-as-saudi-attack-focuses-market-on-supply-risks.md) | +5.8% | -0.1% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-rises-concerns-about-supply-disruptions-venezuela-iran-increase-2026-01-09/

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