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Crude oil futures end higher amid geopolitical risks

13 Jan 2026 Evaluate

Extending gains for the third consecutive session, Crude oil futures ended higher on Monday as the increasing possibility of U.S. intervention to end the Iran turmoil sets off production disruption concerns. In addition, a dip in the greenback sparked by possible indictment of the U.S. Fed Chair supported prices. After meeting leaders of big U.S. oil majors, Trump announced that the U.S. would be extracting an unprecedented quantity of oil from Venezuela. Trump also urged the companies to invest billions of dollars in rebuilding Venezuela's dilapidated refineries and infrastructure.

Benchmark crude oil futures for February delivery rose $0.38 or 0.64% to settle at $59.50 a barrel on the New York Mercantile Exchange. Brent crude for March delivery increased $0.53 or 0.84% to settle at $63.87 a barrel on London's Intercontinental Exchange. 


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