Oil prices drop over supply concerns

Oil prices dropped on Monday, January 26, 2026, after climbing more than 2% in the previous session.

This follows supply concerns that kept a lid on benchmarks despite production disruptions in major United States crude-producing regions.

Brent crude futures fell 7 cents, or 0.1%, to $65.81 a barrel at 0221 GMT, while U.S. West Texas Intermediate crude was at $61.01 a barrel, down 6 cents, or 0.1%.

Petrol, diesel, cooking gas prices’ll continue to fall — FG

Both benchmarks notched weekly gains of 2.7% to close on Friday at their highest points since January 14.

A U.S. military aircraft carrier strike group and other assets are expected to arrive in the Middle East in the coming days.

“Oil prices are being tickled this week by signs of production disruptions in the U.S., coupled with persistent geopolitical risk against the notion of an oversupplied 2026,” a senior market analyst at Phillip Nova Pte Limited, Priyanka Sachdeva, told Reuters.

The Star