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Commodity Mid Session News

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(27 Jan 2026, 12:50)

Oil eases near $60 as Kazakhstan supply improves


Oil prices edged lower toward $60 per barrel as an improving supply outlook from OPEC+ member Kazakhstan outweighed concerns over US weather-related production disruptions. West Texas Intermediate settled below $61 a barrel after a strong 2.9% rally on Friday, as crude flows resumed through a key Black Sea export terminal and output from the giant Tengiz field is set to restart, easing tightness in the European market. Losses were limited by lingering US supply disruptions and elevated geopolitical risks, particularly rising tensions in the Middle East amid increased US military presence and frictions with Iran. Traders are now focused on the upcoming OPEC+ meeting, where production levels are expected to remain unchanged, while MCX February crude oil futures slipped 1% to Rs 5,576 per barrel after domestic trading resumed following the Republic Day holiday.
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