WTI Oil Gains on Iran Export Risks while Venezuela Supply Concerns Linger

The Iran Risk Premium

Nationwide protests in Iran have reached a critical state, with hundreds reportedly killed. Concerns that the clerical rule may collapse or retaliate against energy infrastructure have added a 'fear premium' to the prompt-month contract.

Venezuela Transition Strategy

The Trump administration has signaled it will sell off Venezuela's sanctioned oil inventory of nearly 50 million barrels. While this adds to the long-term surplus narrative, the immediate naval blockades are preventing some heavy sour crude flows, tightening local balances.