Oil Falls for 2nd Day

2026-01-27 01:18 By Judith Sib-at 1 min. read

WTI crude oil futures fell to around $60.3 per barrel on Tuesday, extending losses from the previous session, weighed down by the resumption of Kazakh crude exports.

Kazakhstan’s Tengiz oil field is expected to restart soon, while the CPC also said its export terminal on the Black Sea coast has returned to full-capacity operations.

Losses were capped by supply disruptions in the US and elevated geopolitical risks.

US producers are estimated to have lost roughly 15% of national output over the weekend due to a massive winter storm.

Meanwhile, tensions in the Middle East, with the US increasing its military presence amid frictions with Iran, continued to stoke concerns about potential disruptions to regional supplies.

The Russia-Ukraine peace talks last weekend failed to reach a breakthrough, though both sides agreed to resume negotiations next weekend.

Traders now look ahead to the OPEC+ meeting later this week, where the group is expected to maintain its plan to keep output steady.



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