23 Jan 2026 - 11:28
The Kabul Tribune (KT) - Oil prices rebounded on Friday after U.S. President Donald Trump renewed threats against Iran, raising concerns that military action could disrupt global oil supplies, Reuters reports.
Brent crude for March delivery rose 43 cents, or 0.7%, to $64.49 per barrel, while U.S. West Texas Intermediate (WTI) increased 42 cents, also 0.7%, to $59.78 per barrel. Both contracts had fallen about 2% on Thursday.
Trump told reporters aboard Air Force One that the U.S. has a “naval armada” heading toward Iran, but said he hoped it would not need to be used. He also warned Tehran against killing protesters or restarting its nuclear program. A U.S. official said warships, including an aircraft carrier and guided missile destroyers, are expected to arrive in the Middle East in the coming days.
For the week, both Brent and WTI are set for modest gains of about 0.6%, following earlier fluctuations caused by Trump’s threats to invade Greenland and subsequent deal with Denmark that grants “total access” to the Arctic island.
Oil prices were also pressured by U.S. government data showing rising stockpiles amid slowing fuel demand. The Energy Information Administration reported that U.S. crude inventories rose by 3.6 million barrels for the week ending January 16, higher than the 1.1 million-barrel increase predicted by analysts and the 3 million barrels reported by the American Petroleum Institute, Reuters said.
