Decline in Oil Prices Despite One of the Strongest Monthly Trends in Years
Oil Prices Dip After Multi-Month Highs
Oil prices fell by over 1% in early Asian trading on Friday, January 30, 2026, after reaching their highest levels in several months. This decline comes amid persistent investor fears of potential disruptions in global supply, even as markets are on track for their most significant monthly gains in years.
Drop After Multi-Month Peaks
Brent crude futures dropped by 91 cents to settle at $69.80 per barrel, following a 3.4% increase at the close of the previous session, marking its highest point since July 31.
Meanwhile, U.S. West Texas Intermediate (WTI) crude fell by $1.06 to $64.36 per barrel, after gaining 3.4% on Thursday, also reaching its highest level since September 26, 2025.
Strong Monthly Performances Driven by Supply Concerns
Despite this daily retreat, both oil benchmarks are poised for their first monthly gains in six months. Brent is up approximately 14.7%, representing its largest monthly increase since January 2022, while WTI has seen a rise of nearly 12%, its best monthly performance since July 2023.
This momentum is bolstered by ongoing concerns regarding potential supply disruptions, which continue to fuel volatility in energy markets.
