Where are Brent and WTI trading in oil prices today?

Brent crude for March traded near $60.23, while the WTI price for February hovered around $56.79. Both eased ahead of the OPEC+ meeting as traders positioned for an unchanged first‑quarter output plan. The initial move after the statement will likely depend on how guidance differs from expectations.

What is the OPEC+ meeting and why does it matter?

OPEC+ brings major producers together to set output targets. When they cut or keep barrels off the market, prices can firm. If they add supply or hint at weaker compliance, prices often soften. Today, markets expect no change for Q1, so any surprise could drive a quick reaction.

Why did oil prices fall despite geopolitical risks?

Geopolitical headlines can lift prices, but they often fade if supply looks adequate and demand indicators are soft. Traders also reduce risk before policy events, which can pressure futures. With expectations set for no policy shift, positioning and perceived oversupply outweighed risk premiums today.

How do oil prices affect inflation in Germany?

Crude is priced in USD, but it drives euro‑area fuel and heating costs. If Brent rises and the euro weakens, pump prices increase faster, lifting transport and logistics costs. Stable or lower crude supports disinflation, helping households and sectors like chemicals that rely on energy inputs.

Global Market Insights

Oil Prices Today, January 04: Brent, WTI Slip Before OPEC+ Decision

ByHuzaifa Zahoor January 4, 2026January 4, 2026

Oil prices today are softer as traders wait for the weekend OPEC+ meeting. Brent crude for March traded near $60.23 and the WTI price for February hovered around $56.79. Markets expect OPEC+ to leave first‑quarter output unchanged, keeping supply discipline but not tightening the market. The pullback points to near‑term oversupply concerns. For German investors, the move shapes views on inflation, fuel costs, and sector performance in the DAX and MDAX. We explain the drivers, scenarios, and practical takeaways.