Oil Prices Surge Amid Iran Unrest, Venezuela Exports Offer Limited Relief

• Oil prices climbed due to concerns that escalating protests in Iran could disrupt crude supply.
• Brent crude futures rose 0.49% to $63.65/barrel; U.S. WTI crude increased 0.51% to $59.42/barrel.
• Both contracts saw over 3% gains last week, their biggest weekly rise since October, as Iran's crackdown intensified.
• Analysts warn that the situation in Iran puts at least 1.9 million barrels per day of oil exports at risk.
• Venezuela's expected resumption of oil exports, with 50 million barrels for the U.S., is limiting price gains.

Why It Matters: Global oil prices are rising due to Iran's unrest, but potential Venezuelan exports offer some market stability.