Oil prices rise more than 2% after Trump cancels meetings with Iran, tells protesters help is on the way

January 13, 2026

TL;DR

Crude oil prices rose more than 2% on Tuesday.
U.S. crude oil closed at $61.15 per barrel, and Brent crude settled at $65.47 per barrel.
President Donald Trump canceled all meetings with Iranian officials.
Trump promised support for Iranian protestors facing a crackdown.
Iran's security forces have reportedly killed hundreds of protestors.
Internet access has been cut off in Iran, hindering verification of the situation.
Iran is a member of OPEC and a major crude oil producer.
The oil market is watching for potential supply disruptions due to the unrest.

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