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Crude oil futures settle higher on Wednesday

22 Jan 2026 Evaluate

Crude oil futures ended higher on Wednesday as traders assessed U.S. President Donald Trump's speech at the World Economic Forum, where he sought negotiations on the U.S. bid to acquire Greenland. However, Trump said he would not use military force in his pursuit. Oil prices also got some support amid tightening global supplies following shutdowns at Kazakhstan’s Tengiz and Korolev oil fields, where fires damaged power generators and halted production. Kazakhstan is now a major crude producer with a capacity of around 1.7 million barrels per day.

Benchmark crude oil futures for March delivery rose $0.26 or 0.43% to settle at $60.62 a barrel on the New York Mercantile Exchange. Brent crude for March delivery increased $0.32 or 0.49% to settle at $65.24 a barrel on London's Intercontinental Exchange. 

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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