Iran Tensions Underpin Crude Oil Prices

Group 1: Market Overview - Crude oil and gasoline prices increased on Friday, recovering from a significant selloff on Thursday, with February WTI crude oil closing up by $0.25 (+0.42%) and February RBOB gasoline up by $0.0014 (+0.08%) [1][2] Group 2: Geopolitical Factors - Geopolitical risks in Iran are supporting crude prices, despite a reduced likelihood of an immediate US response to protests in Iran, as the US is enhancing its military presence in the Middle East [2][3] - Ongoing unrest in Iran, OPEC's fourth-largest producer, is contributing to crude price support, with thousands protesting against government policies leading to a currency crisis and economic collapse [4] Group 3: Production and Supply Concerns - Iran's crude production, exceeding 3 million barrels per day (bpd), could face disruptions if protests escalate and the US opts for military action against government targets [4] - Recent drone attacks on oil tankers near the Caspian Pipeline Consortium terminal have halved crude loadings at the terminal to approximately 900,000 bpd, further supporting crude prices [5]