LLOG Exploration Company LLC
01/12/2026 | Press release | Archived content
What’s Affecting Oil Prices This Week? (Jan. 12, 2026)
ExpandIf escalation appears imminent in Iran, expect a sharp break above $65-$70. Until then, bearish trader sentiment and excess supply keep a lid on oil prices. (Shutterstock)
HE
By
Hart Energy Staff
January 12, 2026 11:35 AM CST
Key Takeaways
- The price of Brent crude oil ended the week at $62.98 after closing the previous week at $60.80.
- For the upcoming week, geopolitics continues to be an outsized factor with instability in Iran including potential regime change risks and protests.
- Uncertainties surrounding Venezuela with the U.S. military capture of Nicolás Maduro (Jan. 3) are plenty, including the impact on the Venezuelan oil sector.
The price of Brent crude oil ended the week at $62.98 after closing the previous week at $60.80. The price of WTI ended the week at $58.78 after closing the previous week at $57.33. The price of Oman crude oil ended the week at $61.92.
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LLOG Exploration Company LLC published this content on January 12, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on January 14, 2026 at 21:06 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]