Oil Prices Rise for Fourth Straight Week Amid Geopolitical Tensions in Iran
Global oil prices rose on January 16 as markets reacted to risks in the Middle East. Both major benchmarks achieved their fourth straight week of gains today.
Insights:
Oil prices climbed on January 16, 2026, as market participants reacted to escalating geopolitical risks in the Middle East. Brent Crude Oil gained 50 cents, or 0.78%, to reach $64.26 a barrel by 1000 GMT. Simultaneously, WTI Crude Oil in the US 
USrose 48 cents, or 0.81%, to settle at $59.67. This upward movement allowed both benchmarks to achieve a fourth consecutive weekly gain following a period of heightened market volatility.
USrose 48 cents, or 0.81%, to settle at $59.67. This upward movement allowed both benchmarks to achieve a fourth consecutive weekly gain following a period of heightened market volatility.
