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StanChart: Bearish Oil Glut Narrative Fades as Brent Breaks $70
Market Intelligence Analysis
AI-Powered
Why This Matters
Oil prices surged to their highest level in months due to potential US strikes on Iranian military positions, with Brent crude breaking the $70 per barrel mark for the first time since July 2025.
Market Impact
Market impact analysis based on bullish sentiment with 85% confidence.
Sentiment
Bullish
AI Confidence
85%
Time Horizon
Short Term
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
Oil prices surged to their highest level in months in Wednesday's session after reports emerged that U.S. President Donald Trump is weighing targeted strikes on Iranian military positions as he pursues regime change. Brent crude for March delivery was up 3.63% to trade at $70.92 per barrel at 12.40 pm ET, marking the first time Brent has crossed the pivotal $70 per barrel mark since July 2025, while the corresponding WTI contract gained 3.72% to $65.49. Unrest in the OPEC-producing country has left thousands dead, with a U.S.-based rights group…
Original article published by
OilPrice.com
on January 30, 2026.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.