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Energy Preview: WTI crude oil futures head for first weekly loss in New Year
06-Feb-2026 08:37

WTI crude oil futures are oscillating on either sides of $63 per barrel mark on Friday morning in Asia after the United States (US) and Iran reportedly agreed to hold talks in Oman which are scheduled for later in the day. Easing concerns on geopolitical front are however likely to limit upside in the counter. Currently, the counter is quoting at $63.35 per barrel, up 0.20% on the day. However, significant drop in crude inventories might help limit the WTI's losses. According to the US Energy Information Administration (EIA) weekly report, crude oil stockpiles in the US for the week ending January 30 fell by 3.455 million barrels, compared to a decline of 2.296 million barrels in the previous week. the counter is heading for their first weekly decline in the New Year 2026.

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