1416 GMT - Iran's growing unrest could have significant implications for global oil markets, analysts at Capital Economics say. "The prospect of disruption to Iranian energy output presents a bigger threat to global supplies than the situation in Venezuela does, particularly given the potential for instability to affect supply outside Iran itself," they say. "The geopolitical stakes are high too given Iran's current status as one of the largest economies in China's current sphere of influence." Iranian crude accounts for nearly 15% of China's total crude imports, compared to Venezuela's 2%, according to the firm. The analysts say a strike by oil workers, a blockade of the shadow fleet, or threats to close the Strait of Hormuz could push oil prices up $15-$20 a barrel, though the increase would likely be short-lived. (giulia.petroni@wsj.com)
(END) Dow Jones Newswires
January 12, 2026 09:16 ET (14:16 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
