Oil Pauses Rally

2026-01-14 01:05 By Kyrie Dichosa 1 min. read

WTI crude oil futures fell below $61 per barrel on Wednesday, pausing a four-day rally as Venezuela resumed oil exports, though the move was countered by ongoing fears of supply disruptions from Iran.

Two supertankers carrying about 1.8 million barrels each departed Venezuelan waters, likely marking the first shipments under a 50-million-barrel supply deal with the US.

Still, prices hovered near a three-month high, supported by rising supply risks tied to intensifying protests in Iran.

President Trump has also canceled talks with Iranian officials while signaling support for demonstrators, with unrest and possible US involvement threatening Iran’s roughly 3.3 million bpd output.

Elsewhere, attacks near the Caspian Pipeline disrupted Kazakhstan’s exports, compounding delays from harsh winter weather and mooring damage.

Meanwhile, API data showed US crude inventories rose by 5.3 million barrels last week, potentially the biggest build in two months if confirmed.



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