Oil markets are enduring a wild ride in early 2026, with fast-moving geopolitical developments in Iran causing sharp price reactions. While the US’ ousting of Venezuelan President Nicolas Maduro resulted in little more than a tired shrug from oil markets, the response to mass protests in Iran has been much stronger, reflecting concerns over potential disruption to the oil sector in Opec’s fourth -largest producer (MEES, 16 January).
Even before protests broke out (MEES, 2 January), speculation was rife that a second round of conflict could break out between Israel and Iran this year. As the death count among protestors rose, US President Trump upped the ante with a series of statements implying that the US was prepared to intervene militarily to protect them. (CONTINUED - 854 WORDS)
