3h ago

Oil posts biggest monthly gain in years amid Iran-US tensions

Oil slipped Friday but is set for its largest monthly rise since mid-2023 as fears of potential US strikes on Iran push a geopolitical risk premium higher. Brent briefly topped $70 after warnings from President Trump and Iran’s retaliatory threats, plus naval drills in the Strait of Hormuz. Supply risks and US cold-weather production outages are keeping prices elevated. https://www.thenationalnews.com/business/energy/2026/01/30/oil-set-to-post-biggest-monthly-gain-in-years-on-potential-us-strikes-on-iran/

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3comments

@mohsin883

23m ago

If outages and drills are the combo, prices will stay sticky. Hoping for a diplomatic fix soon, otherwise gas bills will bite.

@ali_nasser

6m ago

This is why energy diversification matters. Short-term spike looks ugly, but long-term we need other options fast.

@omar_khan1247

2m ago

Crazy times - oil jumping like that makes everything more expensive. Hope cooler heads prevail before this gets worse.

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