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Oil Climbs as Weak Dollar and Risk-On Mood Counter Glut Worries - BLOOMBERG

JANUARY 23, 2026

 Oil gained as a weaker dollar and risk-on mood in wider markets offset concerns about higher supplies in the US and elsewhere.

Brent crude rose toward $65 a barrel, headed for a fifth weekly gain, while West Texas Intermediate was near $60. The US currency dropped, making commodities cheaper for overseas buyers, with the Bloomberg Dollar Spot Index down by 0.8% this week, the most since June. In wider markets, shares advanced along with a broad range of commodities.

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