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Oil: falling prices

21/01/2026
Source : ORISHAS FINANCE
Categories: Raw materials

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This Wednesday, oil prices fell, while that the expected rise in American crude inventories has made up for the halt temporary production of two major fields in Kazakhstan and geopolitical pressures linked to American threats of tariffs in the framework of his attempt to take control of Greenland.

Brent futures fell by 76% cents, or 1.2%, to 64.16 dollars per barrel at 04:45 GMT.

The American Crude Oil Futures Contract West Texas Intermediate lost 60 cents, or 1%, to 59.76 dollars per barrel.

Both contracts closed up nearly 1%. dollar per barrel, or 1.5%, during the previous session, after the Kazakhstan, an OPEC+ producer, interrupted production on Sunday on Tengiz and Korolev oil fields due to problems with electricity distribution.

American Crude Oil and Gasoline Inventories are expected to have increased last week, while stocks of Distillates have likely declined, according to a preliminary Reuters poll published on Tuesday.

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