The unrest in Iran has entered the third week and several deaths have been reported in the past few days. US President Donald Trump has threatened to intervene if the Iranian authorities use forces to control the protestors. 

The unrest in Iran has entered the third week and several deaths have been reported in the past few days. US President Donald Trump has threatened to intervene if the Iranian authorities use forces to control the protestors. 
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Crude oil futures traded higher on Monday morning as escalating unrest in Iran raised concerns over potential supply disruptions.

At 9.57 am on Monday, March Brent oil futures were at $63.42, up by 0.13 per cent, and March crude oil futures on WTI (West Texas Intermediate) were at $59.18, up by 0.41 per cent. January crude oil futures were trading at ₹5,346 on Multi Commodity Exchange (MCX) during the initial hour of trading on Monday against the previous close of ₹5,352, down by 0.11 per cent, and February futures were trading at ₹5,360 against the previous close of ₹5,366, down by 0.11 per cent.

The unrest in Iran has entered the third week and several deaths have been reported in the past few days. US President Donald Trump has threatened to intervene if the Iranian authorities use forces to control the protestors.

Quoting an official, a Reuters report said that Trump is expected to meet senior advisers on Tuesday to discuss options for Iran.

In their Commodities Feed for Monday, Warren Patterson, Head of Commodities Strategy of ING Think, and Ewa Manthey, Commodities Strategist, said after a strong end to last week, the oil market has continued to strengthen in early Monday morning trading as protests in Iran escalate, raising concerns about supply. The Iranian government warned both the US and Israel not to intervene amid the ongoing unrest. Iran is the fourth-largest OPEC member, producing around 3.2 million barrels a day of crude oil. So, this leaves a fair amount of supply risk hanging over the market, they said.

Meanwhile, Ukraine continues to target Russian energy infrastructure. Ukraine has been targeting all parts of the Russian oil supply chain from upstream infrastructure to pipelines to ports to refineries. Russian supply faces risks both from these ongoing attacks and the US appearing to move a step closer towards tougher sanctions on Russian energy.

Senator Lindsey Graham said that President Trump ‘greenlit’ the bill he’s worked on along with other lawmakers. It would place tariffs and secondary sanctions on countries importing Russian energy. This opens the path for the bill to move to Congress. However, with the White House favouring flexibility on Russia sanctions amid negotiations, it’s unclear the legislation would pass, they said.

The Commodities Feed said that ExxonMobil’s CEO threw cold water on any idea of large investment in the Venezuelan oil industry, calling the country ‘uninvestable’ without significant change. Other producers have discussed the potential to boost Venezuelan oil output over the next several years. It may be difficult to see oil companies that previously had assets expropriated by the Venezuelan government re-enter without receiving the compensation they were awarded in international courts, they said.

Meanwhile, US Treasury Secretary Scott Bessent has said that further sanctions against Venezuela may be lifted as early as this week to facilitate oil sales.

January menthaoil futures were trading at ₹984.50 on MCX during the initial hour of trading on Monday against the previous close of ₹989.60, down by 0.52 per cent.

On the National Commodities and Derivatives Exchange (NCDEX), January cottonseed oilcake contracts were trading at ₹3,360 in the initial hour of trading on Monday against the previous close of ₹3,295, up by 1.97 per cent.

January guargum futures were trading at ₹10,716 on NCDEX in the initial hour of trading on Monday against the previous close of ₹10,523, up by 1.83 per cent.

Published on January 12, 2026