Brent crude oil futures hovered around $65 per barrel on Wednesday, holding most of the gains from a four-day rally near an almost twelve-week high, as investors awaited comments from US officials on Iran ahead of a White House meeting. This follows President Trump’s decision to cancel talks with Iranian officials until protests subside, while signaling support for demonstrators. Unrest in Iran and the risk of US involvement could threaten the country’s roughly 3.3 million bpd oil output. Trump also warned that countries doing business with Iran would face a new 25% tariff, adding to concerns of supply disruptions. Elsewhere, attacks on two oil tankers near the Caspian Pipeline Consortium’s Black Sea terminal have disrupted Kazakhstan’s crude exports, amplifying delays from harsh winter weather and mooring damage. Meanwhile, API data showed US crude inventories rose by 5.3 million barrels last week, potentially the biggest build in two months if confirmed by official data.