29 Jan Oil Prices Today/ Brent $71.89/bbl, Bonny Light $73.92/bbl,
Oil prices rose to its highest level yet since summer last year due to Iran concerns and a weak U.S.dollar.
Gold prices are also up as hitting a new all-time high of just under $5,595/oz. Silver also set a new record @ $120/oz. Investors are reportedly favouring tangible assets such as precious metals such as Gold and silver as safe havens, while oil prices continue to be influenced by escalating tensions in the Middle East.
China has publicly condemned the United States’ punitive actions against Cuba, denouncing Washington’s pressure on the island and urging an end to what it sees as disruptive measures.
The US Federal Reserve left interest rates unchanged after its first rate-setting meeting of the year on Wednesday, resisting enormous pressure from the White House to lower rates.
A majority of members in the Fed’s federal open market committee (FOMC) voted to pause interest rate cuts after slashing rates three times in the fall. Rates currently sit at a range of 3.5% to 3.75%.
Canada’s oil industry is currently booming in the Asian markets, as it seeks to reduce its dependence on the United States amid ongoing trade tensions over tariffs.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) Oilprice | USD/bbl | $66.29. | Up |
| Crude Oil (Brent) | USD/bbl | $71.89 | Up |
| Bonny Light 29/01/26 CBN | USD/bbl | $73.92 | Up |
| Dubai | USD/bbl | $61.58 | — |
| Natural Gas | USD/MMBtu | $3.84 | Up |
| Murban | USD/bbl | $69.00 | Up |
| OPEC basket 28/01/26 OPEC | USD/bbl | $65.13 | Up |
| At press time January 29, 2026 |
More Energy, Oil & Gas Stories !!! �The squeaky wheel gets the oil�
OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Submit your Releases or contact us now!, victor@oilandgaspress.com
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