Oil prices climb as Middle East supply risks persist despite easing military strike concerns
Oil prices rose on January 16 as markets reassessed Middle East supply risks. Traders balanced easing military strike concerns with persistent regional tensions.
Insights:
Oil prices advanced on January 16, 2026, as market participants reassessed geopolitical supply risks in the Middle East following recent statements from the United States 
USregarding potential military action. Brent Crude Oil gained 66 cents, or 1.04%, to reach $64.42 a barrel by 1302 GMT on Friday. Meanwhile, WTI Crude Oil rose by 62 cents, or 1.05%, to settle at $59.81. These gains placed both benchmarks on a trajectory for weekly growth, with Brent Crude Oilon course for a 1.7% weekly gain and WTI Crude Oilset for a 1.2% weekly gain.
USregarding potential military action. Brent Crude Oil gained 66 cents, or 1.04%, to reach $64.42 a barrel by 1302 GMT on Friday. Meanwhile, WTI Crude Oil rose by 62 cents, or 1.05%, to settle at $59.81. These gains placed both benchmarks on a trajectory for weekly growth, with Brent Crude Oilon course for a 1.7% weekly gain and WTI Crude Oilset for a 1.2% weekly gain.Earlier in the week, Brent Crude Oilhit multi-month highs after protests flared up in Iran 
IRand Donald Trump donald trumpsignaled potential military strikes. However, the market experienced a sharp reversal on Thursday, when both benchmarks lost over 4% after Donald Trumpstated that the crackdown on protesters by Iranwas easing. Despite this softening of immediate military strike concerns, Brent Crude Oilremained resilient, rising a little more than $1 at its intraday peak on Friday as investors remained wary of persistent risks to the energy sector.
IRand Donald Trump donald trumpsignaled potential military strikes. However, the market experienced a sharp reversal on Thursday, when both benchmarks lost over 4% after Donald Trumpstated that the crackdown on protesters by Iranwas easing. Despite this softening of immediate military strike concerns, Brent Crude Oilremained resilient, rising a little more than $1 at its intraday peak on Friday as investors remained wary of persistent risks to the energy sector.
