Deutsche Bank analysts note that Brent has risen to around a one-week high as geopolitical risks around Iran intensify. Comments from President Trump on potential military moves and reports of possible tanker seizures have pushed Oil higher. Analysts link the latest price action to heightened Middle East uncertainty rather than demand dynamics.

Iran headlines underpin crude prices

"But matters also weren’t helped by ongoing concerns in the tech space, whilst fresh geopolitical risks around Iran have seen Brent crude oil move up to a 1-week high this morning of $69.17/bbl."

"Over on the geopolitical side, we also had some fresh headlines on Iran yesterday which put upward pressure on oil prices."

"Separately, the WSJ reported that Trump administration officials had considered whether to seize tankers transporting Iranian oil, but have held off because of concerns about retaliation and the oil market impact."

"So oil prices moved higher after those headlines, and this morning Brent crude is currently around a 1-week high of $69.17/bbl."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)