Oil Prices News 19 January 2026 - 26 January 2026

Brent crude rose 1.2% to $64.82 a barrel by 1026 GMT Friday after U.S. President Trump warned of an “armada” heading toward Iran and Kazakhstan’s Tengiz oilfield remained shut. Brent had dropped 1.8% the previous session on easing geopolitical tensions and rising U.S. inventories. Kazakhstan’s force majeure on CPC Blend shipments may last 7–10 days. Traders await the U.S. petroleum status report on Jan. 28.

Brent crude fell 1.6% to $64.17 a barrel as easing geopolitical tensions shifted focus to rising inventories. The IEA forecasts a Q1 surplus of 4.25 million bpd, but major producers downplay glut concerns. U.S. crude stocks rose by 3.04 million barrels last week. Traders await U.S. inventory data Thursday and an OPEC+ meeting on Feb. 1.

Brent crude slipped 12 cents to $64.80 a barrel by 1125 GMT Wednesday, reversing a 1.5% gain from the previous day as traders eyed a possible U.S. crude stockpile increase. Kazakhstan’s Tengiz and Korolev fields remain halted, with the shutdown possibly lasting up to 10 days. U.S. inventory data from API and EIA is delayed until later this week due to a holiday. Tariff tensions persist following new threats from Washington.

Brent crude rose 0.2% to $64.01 a barrel and U.S. WTI gained 0.5% to $59.72 as traders weighed U.S. tariff threats against Greenland and stronger global growth forecasts. Attention turned to the WTI February contract expiry and the upcoming U.S. inventory report due Jan. 22. Thin trading followed a U.S. holiday. Venezuelan cargoes reportedly sold at steep discounts to China.

Brent crude slipped to $63.83 a barrel and WTI fell to $58.95 as traders reacted to new U.S. tariff threats on Europe tied to Greenland. China’s stronger-than-expected growth data and an IMF global outlook upgrade helped steady prices. The dollar index dropped to its lowest since Jan. 12, supporting commodities. Trump’s tariff plan targets several European countries, with rates set to rise if no Greenland deal is reached.