Oil Prices Edge Higher as Trump Signals Military Deployment Near Iran

Global oil prices edged higher on January 23, 2026, following U.S. President Donald Trump's remarks about deploying a "big force" toward Iran. Crude oil futures for March delivery rose $1.20 to settle at $65.80 per barrel on the New York Mercantile Exchange. Analysts noted that geopolitical tensions in the Middle East have historically driven volatility in energy markets. Trump's comments came amid ongoing disputes over Iran's nuclear program and regional influence. Market participants are closely monitoring developments for potential escalation, which could further impact crude prices. Energy traders anticipate increased caution in the coming days as diplomatic efforts continue between the U.S. and Iran.