Iran Tensions Underpin Crude Oil Prices

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chance of an immediate US response to violent protests in Iran has eased, as the US is boosting its military presence in the Middle East.  Crude prices fell from their best levels on Friday after the dollar index recovered from early losses and moved higher. ‘It Makes No Sense To Me’: Nvidia’s Jensen Huang Slams Americans Who ‘Vilified Energy,’ Praises Trump for ‘Sticking His Neck Out’The AI Pick-and-Shovel Trade Hiding in Plain Sight: Stocks & ETFs to Invest in WaterNat-Gas Prices Recover on Forecasts for Below-Normal US TempsOur exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today!Short covering in crude futures supported prices on Friday amid ongoing geopolitical risks in Iran.  While the threat of an immediate intervention from the US against Iran has subsided, the US is moving an aircraft carrier strike group into the Middle East, and other military assets are expected to be shifted there in the coming days and weeks, according to Fox News.Unrest in Iran, OPEC's fourth-largest producer, is underpinning crude prices as thousands of protesters have taken to the streets in many cities of Iran to protest government policies that have triggered a currency crisis and economic collapse.  Iranian security forces have killed thousands of protesters, and President Trump said he may attack Iran if the government continues to kill protesters.  Reuters reported on Wednesday that some US personnel have been advised to leave the US Al Udeid Air base in Qatar.  The facility was targeted by Iran in retaliatory airstrikes last year after the US attacked Iran's nuclear facilities.  Iran, OPEC's fourth-largest producer, produces more than 3 million bpd, and its crude production could be disrupted if the protests against the government worsen and the US decides to strike government targets. Crude is also finding support after drone attacks this week on oil tankers near the Caspian Pipeline Consortium terminal on Russia's Black Sea Coast have reduced crude loadings at the terminal by almost half to around 900,000 bpd.Vortexa reported Monday that crude oil stored on tankers that have been stationary for at least 7 days fell -0.3% w/w to 120.9 million bbl in the week ended January 9.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,940.01 -4.46 (-0.06%)Dow 3049,359.33 -83.11 (-0.17%)Nasdaq23,515.39 -14.63 (-0.06%)Russell 20002,677.74 +3.18 (+0.12%)VIX15.86 +0.02 (+0.13%)Gold4,595.40 -28.30 (-0.61%)Trending tickersBTC-USD Bitcoin USD 95,133.02 -90.01 (-0.09%)ETH-USD Ethereum USD 3,315.89 +29.32 (+0.89%)XRP-USD XRP USD 2.06 +0.00 (+0.03%)SOL-USD Solana USD 142.81 -1.44 (-1.00%)BTC-CAD Bitcoin CAD 132,467.98 -125.33 (-0.09%)PortfolioSign in to access your portfolioSign inTop gainersIBRX ImmunityBio, Inc. 5.52 +1.57 (+39.75%)AGX Argan, Inc. 383.66 +54.00 (+16.38%)RIOT Riot Platforms, Inc. 19.24 +2.67 (+16.11%)ASTS AST SpaceMobile, Inc. 115.77 +14.52 (+14.34%)FIGR Figure Technology Solutions, Inc. 73.91 +8.99 (+13.86%)Top losersZGN Ermenegildo Zegna N.V. 9.56 -1.46 (-13.25%)SSL Sasol Limited 6.31 -0.84 (-11.75%)TLN Talen Energy Corporation 371.66 -47.41 (-11.31%)CEG Constellation Energy Corporation 307.71 -33.42 (-9.80%)GTM ZoomInfo Technologies Inc. 9.04 -0.96 (-9.65%)Most activeIBRX ImmunityBio, Inc. 5.52 +1.57 (+39.75%)ONDS Ondas Inc. 12.16 -0.66 (-5.15%)NVDA NVIDIA Corporation 186.23 -0.76 (-0.41%)INTC Intel Corporation 46.96 -1.35 (-2.78%)BBAI BigBear.ai Holdings, Inc. 6.12 -0.05 (-0.81%)Top economic eventsEarnings eventsMy earnings eventsEarnings events