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WTI crude futures hit $86.


London, Wednesday, 26 January 2022


WTI crude futures hit $86 for the second day in a row on Wednesday, hovering near a seven-year high as investors worry about supplies.


According to the API, US crude stockpiles declined by 875,000 barrels last week, which would be the eighth drop in the last nine weeks if verified by official EIA statistics. Tensions in Ukraine and the Middle East are also persisting.


President Joe Biden said he would consider personally sanctioning Vladimir Putin if he orders an invasion of Ukraine, while a US military installation in the UAE was hit by a missile fired by Yemen's Houthis on Monday.


Investors may contemplate altering their holdings based on the conclusion of the US Federal Reserve Meeting, thus some corrections may be on the cards.


(Report by: The Decision Maker)