Oil Gains 3% as Brent Reprices at $63.57 Amid Supply Disruption Risks

New York | EcoPulse24

Oil posted notable gains during Friday trading as market focus shifted toward geopolitical risks and potential supply disruptions. West Texas Intermediate (WTI) rose to approximately $59.40 per barrel, marking its largest daily increase since October with a nearly 3% rise, while Brent crude climbed to $63.57 per barrel, restoring positive momentum to prices.

The gains came amid escalating internal unrest in Iran, where U.S. President Donald Trump warned of potential consequences if protesters were harmed, bringing renewed attention to the risk of disruptions in one of the world’s top producers. Iran produces more than 3 million barrels per day, making any instability a sensitive factor for global market balance.

Conversely, relative calm in Venezuela helped ease some concerns after Washington canceled previously considered attack plans, signaling improved cooperation. Despite this, oil is set for a third straight weekly gain, even as ongoing projections point to a global supply surplus this year, which could cap further price advances.

Analysis: The movement reflects a swift return to pricing in political risk after a period dominated by oversupply and weak demand factors. Near-term trends will depend on Middle East developments and the resilience of supply in the face of potential escalation, while supply fundamentals remain a potential limiting factor for sustained rallies.