Crude Oil Prices Fall as Expected Inventory Build Overwhelms Kazakhstan Supply Disruptions
Crude prices dropped on January 21 as an expected build in U.S. inventories offset supply halts in Kazakhstan. Brent and WTI fell despite recent market gains.
Insights:
On January 21, 2026, global oil prices experienced a decline as expectations of an increase in crude inventories in the US 
USoutweighed supply-side disruptions in Kazakhstan 
KZ. Brent Crude Oil futures dropped by 79 cents, or 1.22 percent, to settle at $64.13 per barrel by 0201 GMT. Simultaneously, WTI Crude Oil fell by 64 cents, representing a 1.06 percent decrease to reach $59.72 per barrel. These losses follow a session on Tuesday where both contracts had closed nearly $1 per barrel, or about 1.5 percent, higher.
USoutweighed supply-side disruptions in Kazakhstan KZ. Brent Crude Oil futures dropped by 79 cents, or 1.22 percent, to settle at $64.13 per barrel by 0201 GMT. Simultaneously, WTI Crude Oil fell by 64 cents, representing a 1.06 percent decrease to reach $59.72 per barrel. These losses follow a session on Tuesday where both contracts had closed nearly $1 per barrel, or about 1.5 percent, higher.The downward pressure on prices was primarily driven by analyst expectations of rising stockpiles. A poll of six analysts by Reuters estimated that crude inventories in the US crude inventory system rose by approximately 1.7 million barrels in the week ending January 16, 2026. The release of official data from the American Petroleum Institute is scheduled for 4:30 p.m. EST (2130 GMT) on Wednesday, January 21, while the Energy Information Administration is set to release its report at 12 p.m. EST (1700 GMT) on Thursday, January 22. Both reports were delayed by one day due to a federal holiday in the USon Monday, January 20.
