Brent: Oil prices rise amid geopolitical tensions – BNY

FXStreetJan 29, 2026 1:10 PM

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Brent crude has surpassed $70 per barrel for the first time since September, driven by rising tensions with Iran and broader geopolitical risks. Bob Savage, Head of Markets Macro Strategy at BNY, emphasizes in his report that these factors have offset previous oversupply concerns, highlighting energy's renewed role as a macro risk driver.

Brent crude surpasses $70 per barrel

"Brent crude has pushed above $70/barrel for the first time since September, as rising tensions with Iran and broader geopolitical risks offset prior oversupply concerns. This reinforces energy’s renewed role as a macro risk driver."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

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