Crude oil price tumbles on Iran de-escalation; USO stock slips before the bell

Crude oil prices tumbled more than 3% on Thursday after U.S. President Donald Trump said killings in Iran’s crackdown on protests were stopping, easing fears of a supply shock. Brent was down $2.19 at $64.33 a barrel and U.S. West Texas Intermediate fell $2.06 to $59.96, while Saxo Bank’s Ole Hansen said “the immediate risk premium has softened but is unlikely to go away.”

Commodities · NYSE:CVX · NYSE:DBO · NYSE:USL · NYSE:USO · NYSE:XOM · Stock Market
Crude oil price stock jumps before the open as Venezuela talks and Iran unrest lift oil-linked shares

Crude oil price stock jumps before the open as Venezuela talks and Iran unrest lift oil-linked shares

Oil-linked shares edged up in U.S. premarket trading on Friday, putting the crude-oil theme back on traders’ screens as geopolitical tensions rekindled demand. Chevron rose 2.6% to $159.25, Exxon Mobil climbed 3.7% to $122.91 and ConocoPhillips advanced 5.1% to $98.72; the United States Oil Fund gained about 4.1% to $70.54.
9 January 2026
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Key Events Today

The catalysts most likely to move markets.

#1

Warsh at Jackson Hole

Policy tone can move rates, USD, equities, gold and crypto simultaneously.

#2

Michigan sentiment

A weak final reading or elevated inflation expectations could pressure risk assets.

#3

Chicago PMI

A surprise versus 58.0 may alter the near-term manufacturing-growth narrative.

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