Oil Prices in US on January 27 Steady as US Winter Storm Disrupts Supply, Kazakhstan Restarts Output

Oil prices were steady on January 27 as supply losses from a US winter storm were balanced by the return of oil exports from Kazakhstan. US producers lost up to 2 million barrels per day due to weather, while refinery disruptions raised fuel concerns

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Oil prices remain steady amid mixed global signals

Oil prices showed little movement on Tuesday as traders weighed major supply disruptions in the United States against signs of returning output from Kazakhstan. A severe winter storm in the US disrupted crude production and refinery operations, while supply concerns were eased by the restart of exports from Central Asia.

Brent crude futures slipped slightly by 6 cents, or 0.1%, to $65.53 per barrel by late morning trading. US West Texas Intermediate (WTI) crude was almost unchanged, down 1 cent at $60.62 per barrel, per a report by Trading Economics.

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US winter storm hits oil production and refineries

A powerful winter storm swept across large parts of the United States over the weekend, putting pressure on energy infrastructure and power grids. The extreme cold forced several oil producers to shut down operations.

Industry estimates suggest that US oil producers lost up to 2 million barrels per day, which is around 15% of the country’s total oil output. Several refineries along the US Gulf Coast also reported weather-related disruptions, raising fears of short-term fuel shortages, as reported by Reuters.

If cold conditions continue, fuel inventories could fall further in the coming days, especially for heating oil, which has already seen sharp price rises due to strong winter demand.

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Crude oil prices rise but gains remain limited

WTI crude oil futures climbed about 1.5% on Tuesday to around $61.60 per barrel, recovering from a 0.7% loss on Monday. Crude oil prices reached $61.74 per barrel on January 27, 2026, marking a daily rise of 1.83%.

Over the past month, crude prices have increased by 6.3%. However, prices remain 16.31% lower than they were a year ago. Market data also shows that crude oil reached an all-time high of 410.45 in December 2025.

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Kazakhstan supply return caps price gains

The rise in oil prices was limited by news from Kazakhstan. The country’s energy ministry confirmed that production is set to resume at the Tengiz oilfield, its largest oil-producing site.

In addition, the Caspian Pipeline Consortium (CPC) said it had returned to full loading capacity at its Black Sea terminal after completing maintenance work at one of its mooring points. While industry sources noted that export volumes are still low, expectations of increased supply helped calm market fears.

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Heating oil profits and OPEC+ outlook

Some traders are also believed to be taking profits after recent sharp gains in heating oil prices. Analysts said prices had risen quickly due to cold weather, prompting investors to lock in gains.

Meanwhile, OPEC+ is widely expected to maintain current production levels at its upcoming meeting, providing little surprise for the market.

Supply risks remain amid Middle East tensions

Geopolitical concerns continued to influence oil markets. Two US officials said a US aircraft carrier and supporting warships have arrived in the Middle East. The move expands President Donald Trump’s military options to protect US forces or respond to rising tensions with Iran.

While no immediate impact on oil supply has been reported, traders remain cautious due to the region’s importance to global energy flows.