Oil Holds Loss on Supply Outlook as Traders Monitor US Freeze

Bloomberg.com · last updated January 27, 2026 – 12:47 AM

Oil steadied as traders focused on the outlook for plentiful supply, while monitoring the fallout from a sweeping US winter storm.

West Texas Intermediate traded below $61 a barrel after closing 0.7% lower on Monday, while Brent was near $66. Kazakhstan’s largest producer is preparing to resume output at the giant Tengiz field, while Chevron Corp. works to bring more Venezuelan crude to a market that’s mostly well-supplied.

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