FX.co ★ Oil Edges Higher on Iran Protests

WTI crude futures surpassed $59.5 per barrel on Monday, marking the third straight session of gains. This increase is largely attributed to growing concerns over potential supply disruptions due to escalating protests in Iran, now in their third week. These protests have allegedly led to hundreds of deaths, with authorities indicating a harsher response. U.S. President Donald Trump has cautioned Iran against targeting protesters and is reportedly considering military options. In turn, Iran has warned both the U.S. and Israel against intervening. Iran, which exports close to 2 million barrels daily and is the fourth-largest producer in OPEC, represents a significant risk to global supply if tensions escalate further. Concurrently, the uncertainty surrounding Venezuela's oil shipments remains unresolved amid evolving U.S. policies and sanctions. President Trump has also threatened Cuba, warning that Venezuelan oil and financial aid will be cut off unless Cuban leaders come to an agreement with Washington.