NYMEX Oil Futures Trade Lower Amid Demand Concerns

Oil futures declined on the New York Mercantile Exchange on January 29, 2026, as traders weighed persistent concerns over global demand and rising inventories. Front-month West Texas Intermediate (WTI) crude settled down 2.1% at $73.42 per barrel. Brent crude for March delivery fell 1.8% to $77.15. Analysts cite slowing industrial activity in Asia and Europe as key pressure points. The Energy Information Administration reported a surprise 4.2 million-barrel build in U.S. crude stocks last week, exceeding forecasts. Market participants remain cautious ahead of next week’s OPEC+ monitoring committee meeting, where production policy adjustments may be discussed. Volatility remains elevated amid geopolitical uncertainty and mixed signals from central banks on interest rate trajectories.