# Oil prices rise as supply risk remain in focus

> Oil prices edged higher on Friday, with Brent closing at $64.13 and WTI at $59.44, as supply risks stayed in focus. A winter storm had disrupted US crude output and halted Gulf Coast exports, and the likelihood of a US strike on Iran receded.

- Date: 2026-01-16 · published 2026-01-16T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/11394-oil-prices-rise-as-supply-risk-remain-in-focus
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weather-related outages on the US Gulf Coast tighten near-term crude supply, supporting energy costs for feed buyers even as geopolitical risk eases.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-08-31 | [Global fuel prices rise as Harvey's effects ripple  beyond U.S. Gulf](https://feedsoft.ai/events/8391-global-fuel-prices-rise-as-harvey-s-effects-ripple-beyond-u-s-gulf.md) | +5.8% | +13.5% |
| BRENT | 2022-10-01 | [Oil rises from 9-month low on U.S. Gulf supply cuts, softer dollar](https://feedsoft.ai/events/39751-oil-rises-from-9-month-low-on-u-s-gulf-supply-cuts-softer-dollar.md) | +11.3% | +7.7% |
| BRENT | 2024-09-12 | [Oil rises 2% as storm batters US Gulf of Mexico production](https://feedsoft.ai/events/10166-oil-rises-2-as-storm-batters-us-gulf-of-mexico-production.md) | +5.1% | +9.0% |
| BRENT | 2020-08-28 | [-Oil prices dip as producers, refiners avoid worst of hurricane \| Reuters](https://feedsoft.ai/events/51781-oil-prices-dip-as-producers-refiners-avoid-worst-of-hurricane-reuters.md) | -3.5% | -7.5% |
| BRENT | 2021-02-15 | [Oil hits pandemic high as winter storm pushes demand and poses production risk](https://feedsoft.ai/events/48835-oil-hits-pandemic-high-as-winter-storm-pushes-demand-and-poses-production-risk.md) | +0.7% | +10.6% |
| WTI | 2026-04-22 | [Chicago soy rises as oil prices climb, rain forecast threatens Midwest planting - Markets - Business Recorder](https://feedsoft.ai/events/19752-chicago-soy-rises-as-oil-prices-climb-rain-forecast-threatens-midwest-planting.md) | +9.8% | +18.8% |
| WTI | 2022-10-01 | [Oil rises from 9-month low on U.S. Gulf supply cuts, softer dollar](https://feedsoft.ai/events/39751-oil-rises-from-9-month-low-on-u-s-gulf-supply-cuts-softer-dollar.md) | +16.5% | +10.2% |
| WTI | 2024-09-12 | [Oil rises 2% as storm batters US Gulf of Mexico production](https://feedsoft.ai/events/10166-oil-rises-2-as-storm-batters-us-gulf-of-mexico-production.md) | +5.3% | +8.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2026/01/16/oil-flat-as-chances-of-us-strike-on-iran-recedes.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.