In Iran, meanwhile, plainclothes security forces have rounded up thousands of people in a campaign of mass arrests and intimidation to deter further protests. “The potential for Iran getting hit has escalated the geopolitical premium of oil prices,” Citi analysts said in a note. Any peace deal that would allow Russia to export more oil should increase global supplies and decrease energy prices. Russia is the third-biggest crude producer in the world after the U.S. and Saudi Arabia, according to EIA data. A weaker U.S. dollar can boost oil prices by making dollar-priced oil less expensive for many global buyers.