Oil rallies after Trump tells Iran protesters help is on the way
Iranians gather while blocking a street during a protest in Tehran, Iran, on January 9, 2026.
Mahsa | Afp | Getty Images
Crude oil prices rose more than 2 percent on Tuesday after US President Donald Trump canceled all meetings with Iranian officials and promised protesters that help would be on the way.
US crude oil oil closed at $61.15 a barrel, up $1.65, or 2.77%. Global benchmark Brent It settled at $65.47 per barrel, up $1.60, or 2.51%.
The Islamic Republic’s security forces responded to large-scale demonstrations in which hundreds of people were reported dead. There is government cut off internet access It makes it difficult to verify how the situation in Iran is developing on the ground.
Trump has repeatedly threatened to intervene if the Islamic Republic kills protesters.
“Iranian Patriots, KEEP PROTESTING – GOVERN YOUR INSTITUTIONS!!! Hide the names of the murderers and abusers,” Trump said. Real Social post Tuesday.
“They will pay a huge price,” the President said. “I have canceled all meetings with Iranian officials until the senseless killing of protesters STOP. HELP IS ON THE WAY. MIGA!!!”
Iran is a member of OPEC and a major crude oil producer. The oil market is watching to see whether the unrest will lead to supply disruptions.
