London – Oil prices fell today, Wednesday. This was influenced by Venezuela resuming its crude exports. At the same time, fears are escalating over potential disruptions to Iranian supplies. This is due to political unrest in that country. Brent crude futures dropped by 0.15%. It settled at $65.37 per barrel.
This ended a four-day streak of gains. US West Texas Intermediate (WTI) crude futures also declined. They fell by 0.21%. WTI settled at $61.02 per barrel. Meanwhile, market anxieties increased. This followed escalating protests in Iran. It raised fears of supply disruptions. Iran is OPEC’s fourth-largest oil producer.
In this context, US President Donald Trump called on Iranians to continue their protests. He indicated that “assistance is on the way”. Trump did not specify the nature or timing of this aid.