Oil Prices Surge as Trump Pressures Iran and Tanker Attacks Hit Black Sea

Oil prices jumped sharply on Tuesday as escalating geopolitical tensions involving Iran and fresh reports of attacks on oil tankers rattled energy markets.

Brent crude rose nearly 3% to around $66 a barrel, its highest level since October, after U.S. President Donald Trump intensified pressure on Iran’s leadership and voiced support for protesters opposing the regime. Trump also warned he would impose 25% tariffs on goods from countries doing business with Iran, adding to concerns over potential supply disruptions.

Market nerves were further unsettled by reports of unidentified drone strikes on three oil tankers in the Black Sea. The vessels were reportedly en route to the Caspian Pipeline Consortium terminal, a key export route for Kazakh oil, though responsibility for the attacks remains unclear.

European gas prices have also surged, rising 14% over the past three days amid fears of instability affecting Iran, one of the world’s largest natural gas producers. Analysts warned that rising geopolitical risks could continue to drive volatility and push energy prices higher.

Kursiv Uzbekistan also reports that Kazakhstan’s Foreign Ministry voiced serious concern over drone attacks on January 13, 2026, targeting three tankers headed to the Caspian Pipeline Consortium terminal in the Black Sea.