Mumbai, Jan. 30 -- WTI crude oil futures edged below $64 per barrel on Friday amid mild profit-taking but remained on track for their first monthly gain after five consecutive months of losses, supported by a weaker US dollar and an elevated geopolitical risk premium. Persistent concerns over renewed US-Iran tensions have kept markets on edge, particularly over potential disruptions to energy flows through the Strait of Hormuz, a critical artery for global oil shipments. Oil prices have also drawn support this month from supply-side constraints, including production outages in Kazakhstan, US freeze-offs, tighter restrictions on Russian oil purchases, and geopolitical strains in Venezuela, helping offset lingering oversupply concerns. In the...
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