Tankers docked on the Phillips 66 Freeport Terminal in Freeport, Texas, US, on Friday, Jan. 16, 2026.
Mark Felix | Bloomberg | Getty Photographs
Oil costs rose Wednesday after President Donald Trump stated Iran’s Supreme Chief Ayatollah Ali Khamenei “must be very frightened.”
U.S. crude oil rose $1.93, or 3.05%, to shut at $65.14 a barrel. World benchmark Brent was up $2.13, or 3.16%, to settle at $69.46 a barrel.
“I might say he must be very frightened. Yeah, he must be,” Trump informed NBC Information in an interview. “As you already know, they’re negotiating with us.”
The president has threatened to launch strikes on Iran if it does not conform to a deal governing its nuclear program. He beforehand threatened to intervene on the facet of protestors who rose up in opposition to the Islamic Republic in January, however in the end backed away from army motion.
A battle with Iran or a collapse of the regime may disrupt crude oil provides within the Center East. Iran is an OPEC member and important oil producer.
However talks between the U.S. and Iran may nonetheless de-escalate tensions. Iran Overseas Minister Abbas Araghchi stated discussions with the U.S. on the Islamic Republic’s nuclear program will happen at 10 a.m. Friday in Muscat, Oman.
The deliberate discussions had been on the verge of collapsing earlier Wednesday after Washington and Tehran could not agree on a location and format, in response to Axios. Center Jap leaders efficiently lobbied the U.S. to not stroll away from the discussions, two U.S. officers informed Axios.
Trump’s warning comes after the U.S. army stated Tuesday it shot down an Iranian drone that approached the usAbraham Lincoln plane provider. Iranian gunboats additionally tried to board a U.S. service provider vessel within the Strait of Hormuz, in response to U.S. Central Command.
Iranian media stated the drone was conducting routine surevillance that’s permitted below worldwide legislation.
