(RTTNews) – Crude oil prices skyrocketed on Tuesday, extending a recent surge amid increasing geopolitical risk-premium due to escalating tensions between the U.S. and Iran, which have raised output-and-supply related concerns.
WTI Crude Oil for February delivery was last seen trading up by $1.55 (or 2.61%) at $61.05 per barrel.
Starting in December 2025, angered by the incompetence of the ruling regime in handling the escalating price rise and fall in Iranian Rial, civilians in Iran grouped to protest against Iranian Supreme Leader Ayatollah Ali Khamenei, demanding his ouster.
With the protests spreading throughout the nation day by day, clashes between security forces and demonstrators have led to the deaths of thousands.
The uprising continues with the nation suffering an internet blackout disabling the world from getting an accurate picture of the clashes.
U.S. President Donald Trump, who had earlier warned Iran not to unleash violence against demonstrators, is reportedly planning to intervene militarily.
In addition, Trump threatened nations doing business with Iran of 25% tariffs on their imports to the U.S.
After dislodging President Nicolas Maduro from power and extraditing him to the U.S., where he is facing serious criminal charges, Trump had a high-profile meet with senior executives of leading U.S. and European energy firms.
Trump urged them to invest around $100 billion in Venezuela to revive the nation’s oil industry.
Despite the CEO of Exxon Mobil Darren Woods stating that Venezuela is “un-investible” for now, Trump is urging them to utilize the opportunity.
Experts warn that the speed, scale and continuity of increased Venezuelan supply may not be as Trump foresees.
In the ongoing Russia-Ukraine war, Russia attacked Ukraine’s northeastern city of Kharkiv and launched a separate missile attack on Kyiv.
The revised 20-point peace proposal drafted by the U.S. is awaiting Russian President Vladimir Putin’s nod though Ukraine has given a go-ahead.
The Head of the European Commission Ursula von der Leyen stated that it is now up to Russia to show that it is interested in peace.
Crude output from Kazakhstan’s Tengiz, Karachaganak, and Kashagan projects face obstacles following a series of drone attacks on their oil tankers near the Russian Black Sea port of Novorossiysk.
According to a Reuters survey, OPEC’s output in December fell by 100,000 barrels per day as supply declined from Iran and Venezuela’s crude declined by estimated 70,000 bpd with output averaging 28.40 million bpd in December, down from November’s revised numbers.
This significant drop comes despite the coalition’s consensus decision to hike production for December.
In the U.S. today, Automatic Data Processing data revealed that private employers added an average of 11,750 jobs per week for the four weeks ending December 20, 2025, up from an average gain of 11,000 during the prior period.
The data show that job creation is happening positively but at a modest pace.
Bureau of Labor Statistics data revealed that month-over-month core consumer prices in the US, (which exclude food and energy) rose by 0.2% from the previous month for December 2025, slightly softer than the median market expectations of a 0.3% increase.
The annual core consumer price inflation rate, which excludes volatile items like food and energy, stood at 2.6% in December 2025,
Month-over-month consumer prices increased by 0.3% in December, in line with market estimates. Of note, October and November months’ data were unavailable due to the shutdown going on then.
The annual inflation rate in the US remained at 2.7% in December 2025, again in line with market expectations.
The U.S. dollar index was last seen trading at 99.14, up by 0.28 (or 0.28%) today.
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