[MARKET UPDATE] Crude futures initially ticked higher on reports of an explosion in Tehran, but then pared the majority of the move amid an untrustworthy source; WTI last at USD 61.05/bbl after rising to USD 61.85/bbl from 60.61/bbl on the initial reports

The initial rise in crude futures following reports of an explosion in Tehran reflects the sensitive nature of oil markets to geopolitical events.

Newsquawk StaffPublished 14 Jan 2026, 22:31 UTCOn the live feed at 22:11 UTC — 3 more headlines followed before this page went public

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22:23

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22:20

Iran issues NOTAM to close all airspace, according to reports; "NOTAM is valid for a little more than 2 hours"; closes airspace to all flights except international flights to Iran with prior permission

22:11

[MARKET UPDATE] Crude futures initially ticked higher on reports of an explosion in Tehran, but then pared the majority of the move amid an untrustworthy source; WTI last at USD 61.05/bbl after rising to USD 61.85/bbl from 60.61/bbl on the initial reports

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“All the signals are that a US attack [against Iran] is imminent, but that is also how this administration behaves to keep everyone on their toes. Unpredictability is part of the strategy,” Reuters reports, citing a Western military official

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Context

However, the subsequent pullback due to concerns over the reliability of the source suggests that traders are exercising caution, indicating that this could be a short-lived reaction if no credible confirmation emerges. Watch for further developments that might reinforce or undermine this initial move, as volatility in oil prices could significantly affect related markets.

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