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WTI crude traded near $65.5 per barrel on Friday and was on track for its best month since July 2023 on geopolitical risk premium. Prices then slipped below $63 as the IEA reiterated a record 2026 surplus of about 3.7 million bpd and lowered its demand forecast.
Trump said talks with Iran could last up to a month.
Conflicting signals of supply risk and record forecast surplus leave crude range-bound, limiting pressure on energy input costs for feed mills in the near term.
tradingeconomics.comKyrie DichosaJan 30, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
