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

January 10, 2026

Oil prices saw a significant jump on Friday. Growing concerns over supply disruptions in Iran due to intensifying protests are impacting the market. Escalating attacks in Russia’s war in Ukraine are also contributing to these worries. Despite these factors, global oil inventories are rising, potentially capping further price increases. Market focus is now on Venezuelan oil export deals.

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