WTI crude oil futures are holding in positive at the start of the New Year after posting their biggest annual decline in five years. Oil prices could edge higher on potential supply concerns amid escalating geopolitical tensions. Meanwhile, EIA data showed that US crude oil inventories fell by 1.934 million barrels last week, marking the largest weekly draw since mid-November and exceeding market expectations for a 0.9 million-barrel decline. The counter is currently quoting at $57.65 per barrel, up 0.40% on the day.