Overview
- Brent fell to $65.31 and WTI to $60.39 early Tuesday, down about 0.4% after strong gains late last week.
- Analysts and traders estimated U.S. producers lost up to 2 million barrels per day over the weekend as a deep freeze hit output and strained refineries.
- A U.S. aircraft carrier and supporting warships have arrived in the Middle East, reinforcing President Donald Trump’s posture toward Iran as tensions persist.
- The Caspian Pipeline Consortium resumed full loading at its Black Sea terminal, and Tengizchevroil has begun gradually restarting the Tengiz oilfield.
- Eight OPEC+ members are expected to keep a pause on output increases for March at a Feb. 1 meeting, according to delegates.