Crude Oil Price in US on January 26: Prices Edge Higher as US Supply Disruptions, Iran Tensions Raise Concerns

Oil prices edged higher on Monday after last week’s strong gains, supported by US supply disruptions caused by severe winter storms and rising tensions between the US and Iran. Brent crude traded near $66 a barrel, while WTI hovered around $61.

Energy Markets Rise as Winter Storms and Geopolitical Risks Support Oil Prices

Oil prices moved slightly higher on Monday after strong gains in the previous session. Prices were supported by supply disruptions in the United States caused by severe winter weather and by rising tensions between the United States and Iran. Traders remained cautious as they balanced weather-related supply losses, global political risks, and changes in oil exports from other major producers.

Oil prices continue to rise after strong weekly gains

Brent crude futures rose by 7 cents, or 0.1%, to trade at $65.95 a barrel by late morning. US West Texas Intermediate (WTI) crude was up 3 cents, or 0.1%, at $61.10 a barrel.

Both global oil benchmarks had already gained strongly last week. They ended Friday with weekly increases of around 2.7%, marking their highest closing levels since January 14.

US winter storm disrupts oil and gas production

Severe winter weather in the United States has been a key factor pushing prices higher. Winter storm Fern hit the US coast and affected major crude oil and natural gas producing areas, according to a report in Reuters.

According to JPMorgan analysts, around 250,000 barrels per day of crude oil production have been lost due to harsh weather conditions. Production declines were reported in regions such as the Bakken field, Oklahoma, and parts of Texas.

The storm also put pressure on the power grid and increased demand for heating oil, tightening supply further.

Priyanka Sachdeva, senior market analyst at Phillip Nova, said the oil market is seeing a mild upswing because supply outages are limiting physical oil flows.

Middle East tensions keep traders on edge

Geopolitical risks are another major reason for firm oil prices. Tensions between the United States and Iran have raised fears of possible disruptions to energy supplies from the Middle East.

US President Donald Trump said last week that the United States has sent an “armada” towards Iran. He warned Tehran against harming protesters or restarting its nuclear programme, while also saying he hoped military action would not be needed.

In response, a senior Iranian official said on Friday that Iran would treat any attack as an “all-out war”.

An SEB research note said that while cold weather supported oil prices, US threats towards Iran and the deployment of the USS Abraham Lincoln aircraft carrier to the Middle East were likely the stronger drivers behind last week’s price rise.

Kazakhstan exports return to normal

Some pressure on oil prices came from Kazakhstan. The Caspian Pipeline Consortium confirmed that it returned to full loading capacity at its Black Sea terminal on Sunday.

Maintenance work at one of its three offshore mooring points had limited exports earlier, but the restoration means oil shipments are expected to return to normal levels, as reported by Trading Economics.

WTI slips slightly despite mixed market signals

WTI crude oil futures later slipped below $61 per barrel, giving up earlier gains. Traders weighed mixed signals from global supply, trade risks, and political developments.

Concerns remain over trade tensions after President Trump threatened 100% tariffs on Canada if it finalised a trade deal with China. However, Canadian Prime Minister Mark Carney clarified that Canada does not plan to pursue such a deal and said recent talks only lowered tariffs in a few sectors.

Russia-Ukraine talks also ended without a breakthrough, though both sides agreed to continue discussions next weekend.

Crude oil performance and historical trend

Crude oil rose to $61.37 per barrel on January 26, 2026, up 0.49% from the previous day. Over the past month, prices have climbed 5.66%, although they remain 16.13% lower than a year ago.

Based on CFD trading data that tracks benchmark markets, crude oil reached a historical peak of $410.45 in December 2025.

Commodity markets show mixed movement

Other commodities also showed mixed performance. Natural gas jumped sharply, while gold and silver posted strong gains. Industrial metals such as copper rose slightly, while coal and steel recorded small losses.

These moves reflect changing demand, weather impacts, and broader economic uncertainty across global markets.

Oil markets remain sensitive to weather disruptions, political risks, and supply changes. While winter storms and Middle East tensions are offering support, the return of some exports and trade worries continue to limit gains. Traders are expected to stay cautious in the coming days as fresh developments unfold.