Brent crude oil climbed to $66.36 per barrel on January 14, 2026, marking its fifth straight day of gains and the highest level since early October.
Over the past month, Brent has risen 9.57%, though it remains about 19% below levels from a year ago.
The price increase comes amid heightened geopolitical concerns in the Middle East. Tensions in Iran, along with warnings for some U.S. personnel to leave a military base in Qatar, have raised fears of possible disruptions to crude supply.
Iran produces roughly 3.3 million barrels of crude per day, so any interruption could have a significant impact on global oil markets.
Despite the concerns, industry data from the United States showed a 5.3 million-barrel rise in crude inventories, with additional increases in gasoline and distillates.
Normally, rising stockpiles could push prices down, but the market remains focused on supply risks from the region.
Analysts note that geopolitical instability often outweighs inventory trends when traders assess oil prices.
Investors are closely monitoring developments in Iran, along with U.S. responses, which could influence global supply and trade flows.
Overall, Brent has regained momentum after several months of weaker prices. The combination of geopolitical uncertainty, potential production disruptions, and ongoing global demand has kept oil markets on alert.
