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WTI edges higher above $60.00 on geopolitical risks
Par Lallalit Srijandorn
Date de publication: 13 Jan 2026 | Date de modification: 13 Jan 2026
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West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $59.55 during the early Asian trading hours on Tuesday. The WTI price gains traction over one-month highs amid rising tensions in Iran.
- WTI price attracts some buyers to $59.54 in Tuesday’s Asian session.
Iranian security forces have killed hundreds of protesters, and Trump said the - US is monitoring the situation “closely.”
- Markets weigh escalating geopolitical risks against the prospect of additional sanctions supply returning to the market.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $59.55 during the early Asian trading hours on Tuesday. The WTI price gains traction over one-month highs amid rising tensions in Iran. Traders brace for the release of the American Petroleum Institute (API) crude oil stockpiles report on Tuesday.
Reuters reported on Monday that US President Donald Trump said that any country that does business with Iran will face a tariff rate of 25% on any business conducted with the United States. This action came after Trump threatened repercussions if Iranian authorities target civilians, while Tehran warned the US and Israel against any intervention
“Markets seem more focused on the intensifying unrest in Iran amid heated rhetoric and resilient fundamentals,” said Amarpreet Singh, Barclays’ analyst.
Nonetheless, prospects for more supply from Venezuela might cap the upside for th
WTI price. Trump said last week that Venezuela’s interim government agreed to give as many as 50 million barrels of “high-quality, sanctioned oil” to the US. Trump added that the US wants full access to Venezuela’s oil following the arrest of former President Nicolas Maduro by US forces over the weekend.
The API crude oil stockpiles report will be the highlight later in the day. A larger-than-expected crude oil inventory draw indicates stronger demand and could boost the WTI price, while a bigger build than estimated signals weaker demand or excess supply, whic might drag the WTI price lower.
(This story was corrected on January 13 at 03:25 GMT to mention, in the first paragraph, about West Texas Intermediate, not Texas Intermediate)
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
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