Oil Traders Face New Iran Risks Days After Venezuela Crisis
Iranians gather while blocking a street during a protest in Kermanshah, Iran on Jan. 8.
Photographer: Kamran/Middle East Images/AFP/Getty ImagesThe oil market is becoming increasingly responsive to events in Iran, where there have been deadly protests — and threats of US retaliation — in the past several days.
Brent oil futures have risen more than 4% in the past two sessions — having previously given up all gains from the aftermath of US forces capturing Venezuelan president Nicolás Maduro at the weekend. Traders are also paying the biggest premiums for insurance against a future rally since Israel and Iran exchanged air strikes in the summer.