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The US benchmark West Texas Intermediate (WTI) Oil trades moderately higher on Monday, changing hands at $63.30 per barrel at the time of writing, but trapped within previous ranges and significantly below the $66.25 highs witnessed in late January. The ongoing negotiations between the US and Iran about the Islamic Republic’s nuclear program have eased tensions about a war that would, highly likely, spill over the entire region, causing severe strains on global supply. Last week’s de-escalation has been the main driver of the recent pullback in WTI prices. Crude Oil appreciated more than 14% in January, from the eight-month lows at the $54.90 area hit in late December. Rising tensions between Washington and Tehran, which included the deployment of a massive US “armada” to the Middle East, raised alarms about a war that would cause a significant squeeze in global oil supply. Apart from that, growing bets that the Federal Reserve will be forced to lower borrowing costs further in the como¡ing months are providing some support to prices on Monday. Investors anticipate that a less restrictive monetary policy in the US, the world’s largest crude consumer, will stimulate demand, which is easing fears of an Oil glut. 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.…

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Filed under: News - @ February 9, 2026 11:28 am