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Oil benchmarks rebounded after a Thursday drop when US officials said an aircraft carrier and several destroyers were heading to the Middle East. Brent traded near $64.50 and WTI near $59.78.
Earlier, Trump had announced 25% tariffs on countries doing business with Iran before downplaying direct military involvement.
Renewed threat of military action against a major OPEC producer raises the supply risk premium, which lifts energy costs for feed producers and freight.
investing.comOilPrice.comJan 23, 2026After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
