Crude oil futures traded lower on Wednesday morning after industry data showed an increase in US crude oil inventories for the week ending January 9.

At 10 am on Wednesday, March Brent oil futures were at $65.32, down by 0.23 per cent, and February crude oil futures on WTI (West Texas Intermediate) were at $60.95, down by 0.33 per cent. January crude oil futures were trading at ₹5,498 on Multi Commodity Exchange (MCX) during the initial hour of trading on Wednesday against the previous close of ₹5,515, down by 0.31 per cent, and February futures were trading at ₹5506 against the previous close of ₹5529, down by 0.42 per cent.

According to the industry body American Petroleum Institute (API), US crude oil inventories increased by 5.3 million barrels for the week ending January 9. Gasoline inventories increased by 8.2 million barrels and distillates by 4.3 million barrels during the week.

Official data from the US EIA (Energy Information Administration) is expected later on Wednesday.

Both Brent and WTI futures gained more than 2.5 per cent on Tuesday as markets feared Iranian unrest could impact crude oil supplies to the world market.

Meanwhile, US President Donald Trump continued his support to the Iranian protestors urging them to keep protesting. In a post on social media platform Truth Social, he said: “Iranian Patriots, KEEP PROTESTING – TAKE OVER YOUR INSTITUTIONS!!! Save the names of the killers and abusers. They will pay a big price. I have cancelled all meetings with Iranian Officials until the senseless killing of protesters STOPS. HELP IS ON ITS WAY. MIGA!!! PRESIDENT DONALD J. TRUMP.”

Market reports noted that the involvement of the US in the unrest could impact around 3.3 million barrels per day of Iranian crude oil output.

January natural gas futures were trading at 307.80 on MCX during the initial hour of trading on Wednesday against the previous close of ₹304.60, up by 1.05 per cent.

On the National Commodities and Derivatives Exchange (NCDEX), Janaury dhaniya contracts were trading at ₹10,106 in the initial hour of trading on Wednesday against the previous close of ₹10,210, down by 1.02 per cent.

January guargum futures were trading at ₹9,936 on NCDEX in the initial hour of trading on Wednesday against the previous close of ₹10050, down by 1.13 per cent.

Published on January 14, 2026