The recent fluctuations in oil prices have been significantly influenced by the geopolitical tensions between the United States and Iran. On January 30, 2026, oil prices surged by more than 3%, with Brent crude futures climbing $2.31, or 3.4%, to settle at $70.71 a barrel, as reported by BOL News. This spike was attributed to fears of potential U.S. military action against Iran, a major OPEC crude producer. The Tribune Latest highlighted that the strengthening of the U.S. dollar also played a role in the market dynamics, as a stronger dollar typically reduces the demand for dollar-denominated commodities like oil. The sentiment across sources was predominantly negative, reflecting concerns over escalating tensions and their impact on global markets.