Oil prices fall amid geopolitical developments and supply factors
Istanbul, January 26 (Hibya) – In markets where investors assess geopolitical, trade and supply factors, oil prices started the new week with declines. Benchmark Brent crude futures fell below $66 per barrel on Monday, while West Texas Intermediate (WTI) crude futures dropped below $61 per barrel.
Tensions in the Middle East remain a key focus following the deployment of a U.S. aircraft carrier strike group, heightening concerns over a potential escalation with Iran that could threaten energy flows from the region.
Although U.S. President Donald Trump threatened to impose 100% tariffs if Canada were to sign an agreement with China, Canadian Prime Minister Carney clarified that Ottawa has no intention of doing so, noting that the latest agreement only reduced tariffs in a few sectors.
Meanwhile, a severe winter storm hitting the United States boosted heating demand, supporting prices. Kazakhstan’s oil exports are expected to return to normal after repairs to an offshore mooring facility, offsetting some of the gains.
Elsewhere, Russia–Ukraine talks ended without progress, but both sides agreed to continue negotiations over the coming weekend.
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