Site Icon My Commodity News

WTI Crude Edges Higher on Weekend Short Covering

image-alt-text
Published: January 30, 2026

Rangebound Trade

Oil remains stuck in a tight range. The 'war premium' floor at $60 is clashing with the 'supply surplus' ceiling at $62. Volatility has compressed significantly.

Rig Count

Baker Hughes reported another increase in the US oil rig count, reinforcing the outlook for continued production growth in Q1 2026.