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Oil Markets Caught Between Iran War Risks and Emergency SPR Releases

OilPrice.com30 October 2026, 11:30 UTCIran

Crude oil gave back ground on Thursday as traders weighed emergency supply against tentative efforts to reopen talks with Iran. Neither side has taken control. The U.S. Strategic Petroleum Reserve is delivering barrels, but the reserve is near its lowest level since 1982. Peace efforts have resurfaced, but no agreement has been reached, and the threat to regional shipping and Saudi energy infrastructure remains. On Friday, at 00:05 GMT, December WTI crude oil futures are trading at $102.77, down $0.67 or -0.65% for the week. The contract reached…

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Mojtaba KhameneiGovernment leadersIran29 October 2026, 21:20 UTC
Masoud PezeshkianGovernment leadersIran29 October 2026, 19:19 UTC

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