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Commodity News Details
Oil prices ease on demand concerns take centre stage
20-Jan-2026 13:29
Crude oil prices stayed on the back foot on Tuesday, with WTI futures drifting below the $59 per barrel mark as investors reassessed the demand outlook amid rising global trade frictions. Concerns grew after President Trump warned of additional tariffs on European partners over the Greenland issue, a move that could weigh on economic momentum and energy consumption. While demand worries dominated sentiment, immediate supply risks eased after signals from Washington suggested a delay in any military action involving Iran, calming fears of near-term disruptions to Middle Eastern oil flows. With the market already struggling with a notable supply glut, pressure persisted on prices, and MCX April crude futures slipped around 0.5% to Rs 5,396 per barrel. Traders are now focused on the IEA's monthly report due Wednesday for fresh guidance on global supply-demand dynamics.

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