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Oil prices up as US begins holiday weekend and Iran tension rises
January 19, 2026
|Business World Philippines
Oil prices settled higher on Friday as some investors covered short positions ahead of the three-day Martin Luther King holiday weekend in the US and lingering worries about a possible US military strike against Iran.
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Brent crude settled at $64.13 a barrel up 37 cents or 0.58%. US West Texas Intermediate (WTI) finished at $59.44 a barrel up 25 cents, or 0.42%.
Most of Friday’s gains seemed to be due to buying supply ahead of the long weekend, said John Kilduff, partner with Again Capital LLC.
“With that carrier strike group making the move to the (Persian) Gulf, it doesn’t seem likely anything will happen soon,” Phil Flynn, senior analyst with Price Futures Group, said.
The US Navy’s aircraft carrier USS Abraham Lincoln was expected to arrive in the Persian Gulf next week after operating in the South China Sea.
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Business World Philippines
Oil prices up as US begins holiday weekend and Iran tension rises
Oil prices settled higher on Friday as some investors covered short positions ahead of the three-day Martin Luther King holiday weekend in the US and lingering worries about a possible US military strike against Iran.
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January 19, 2026
Business World Philippines
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