Oil Weakens Again—Is Iran Heating Up, But Is Supply “Increasing”?
Oil prices fell in the Asian session on Tuesday (January 27, 2026) after the market shifted its focus to two factors: US-Iran tensions and potential supply disruptions due to extreme weather in the US. March Brent fell to around $65.22/barrel and WTI fell to $60.33/barrel. Oil had previously strengthened as Trump's comments about a US "fleet" heading to Iran fueled speculation about the risk of supply disruptions in the Middle East, while a snowstorm in the US was also feared to temporarily curb production.
However, this bullish momentum was tempered by news from Kazakhstan: production at the giant Tengiz field was gradually restarting after disruptions (fires/blackouts) that had previously impacted CPC Blend exports. This means that supplies, which were previously threatened with tightness, could gradually recover. The market is also awaiting OPEC+'s direction ahead of the February 1 meeting, while monitoring whether the weather disruptions in the US are truly prolonged and whether US-Iran tensions escalate or ease. (az)
The oil price at the time of this analysis is $64.35
- Buy if the price moves below $64.50
- Sell if the price moves below $64.20
Resistance 2: $64.80
Resistance 1: $64.65
Support 1: $64.05
Support 2: $63.90
Disclaimer
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
