Markets looked past rising supply as shifting U.S. rhetoric on Iran and ongoing weather-related disruptions kept risk premiums elevated. Friday, January 30, 2026 Trump’s erratic rhetoric has been greatly supportive of oil prices this week, first promising ‘speed and violence’ to Iran, only to talk about dialogue the next day. The gradual return of Kazakhstan’s shut-in production was not an impediment to see ICE Brent end the week above $70 per barrel, with the bullish sentiment also bolstered by US supply still bearing the…