The post WTI drifts higher to four-month high near $63.50 amid US inventory drop, Iran risks appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI),The post WTI drifts higher to four-month high near $63.50 amid US inventory drop, Iran risks appeared on BitcoinEthereumNews.com. West Texas Intermediate (WTI),

WTI drifts higher to four-month high near $63.50 amid US inventory drop, Iran risks

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.60 during the Asian trading hours on Thursday. The WTI price rises to its highest since late September as crude oil inventories drop and geopolitical tensions in Iran escalate. 

According to the US Energy Information Administration (EIA) weekly report, crude oil stockpiles in the US for the week ending January 24 fell by 2.296 million barrels, compared to a rise of 3.602 million barrels in the previous week. This unexpected decline in crude inventories implies a greater oil demand, supporting the WTI price. 

Reuters reported that a US aircraft carrier and supporting warships have arrived in the Middle East, adding to US President Donald Trump’s capabilities to defend US forces or potentially take military action against Iran. 

On Wednesday, Trump urged Tehran to “come to the table” and negotiate a “fair and equitable deal,” or the next US attack would be far worse. Iran responded with a threat to strike back against the US, Israel and those who support them. Heightened geopolitical risk in the Middle East and concerns over supply disruptions from OPEC’s fourth-biggest crude producer could boost the black gold in the near term. 

On the other hand, renewed US Dollar (USD) demand could weigh on the USD-denominated commodity price. US Treasury Secretary Scott Bessent said on Wednesday that the country has a strong dollar policy, adding that Washington’s focus remains on establishing robust economic fundamentals. 

WTI Oil FAQs

WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.

Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.

The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.

OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.

Source: https://www.fxstreet.com/news/wti-drifts-higher-to-four-month-high-near-6350-amid-us-inventory-drop-iran-risks-202601290211

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Trump goes on early morning Truth Social spree reposting calls for Obama's arrest

Trump goes on early morning Truth Social spree reposting calls for Obama's arrest

President Donald Trump was up early Thursday morning for a Truth Social posting spree that focused largely on his 2020 election loss — but included a dash of claims
Share
Alternet2026/01/29 20:56
CME lanceert binnenkort opties op Solana en XRP futures

CME lanceert binnenkort opties op Solana en XRP futures

CME Group zet een volgende stap in de wereld van crypto derivaten met de aankondiging van nieuwe opties op Solana (SOL) en XRP futures. Als alles volgens plan verloopt, gaan deze producten live op 13 oktober 2025, mits ze groen licht krijgen van de toezichthouder. Daarmee breidt de grootste derivatenbeurs... Het bericht CME lanceert binnenkort opties op Solana en XRP futures verscheen het eerst op Blockchain Stories.
Share
Coinstats2025/09/18 14:32
BetFury is at SBC Summit Lisbon 2025: Affiliate Growth in Focus

BetFury is at SBC Summit Lisbon 2025: Affiliate Growth in Focus

The post BetFury is at SBC Summit Lisbon 2025: Affiliate Growth in Focus appeared on BitcoinEthereumNews.com. Press Releases are sponsored content and not a part of Finbold’s editorial content. For a full disclaimer, please . Crypto assets/products can be highly risky. Never invest unless you’re prepared to lose all the money you invest. Curacao, Curacao, September 17th, 2025, Chainwire BetFury steps onto the stage of SBC Summit Lisbon 2025 — one of the key gatherings in the iGaming calendar. From 16 to 18 September, the platform showcases its brand strength, deepens affiliate connections, and outlines its plans for global expansion. BetFury continues to play a role in the evolving crypto and iGaming partnership landscape. BetFury’s Participation at SBC Summit The SBC Summit gathers over 25,000 delegates, including 6,000+ affiliates — the largest concentration of affiliate professionals in iGaming. For BetFury, this isn’t just visibility, it’s a strategic chance to present its Affiliate Program to the right audience. Face-to-face meetings, dedicated networking zones, and affiliate-focused sessions make Lisbon the ideal ground to build new partnerships and strengthen existing ones. BetFury Meets Affiliate Leaders at its Massive Stand BetFury arrives at the summit with a massive stand placed right in the center of the Affiliate zone. Designed as a true meeting hub, the stand combines large LED screens, a sleek interior, and the best coffee at the event — but its core mission goes far beyond style. Here, BetFury’s team welcomes partners and affiliates to discuss tailored collaborations, explore growth opportunities across multiple GEOs, and expand its global Affiliate Program. To make the experience even more engaging, the stand also hosts: Affiliate Lottery — a branded drum filled with exclusive offers and personalized deals for affiliates. Merch Kits — premium giveaways to boost brand recognition and leave visitors with a lasting conference memory. Besides, at SBC Summit Lisbon, attendees have a chance to meet the BetFury team along…
Share
BitcoinEthereumNews2025/09/18 01:20