January WTI Crude Oil futures fell over 2% due to concerns about oversupply after American Petroleum Institute (API) data indicated a 4.4 million barrel increase in crude oil inventories, pushing commercial tank storage to its highest level in over five months. The market also faced downward pressure from seasonal softness and skepticism that OPEC+ will reduce supply in 2026 amid a surplus forecast, especially as exports from a key Russian port resumed. Resistance is at $62 a barrel, with support near the November 13th lows of $58 a barrel; a break below $58 could test $56 a barrel. Conversely, U.S. Natural Gas futures jumped about 3%, reversing earlier losses as forecasts shifted to cooler temperatures and the European Union's tightening of sanctions on Russia could slow natural gas flows to Europe. The Energy Information Administration (EIA) data later showed a drawdown of 3.42 million barrels, despite a forecast for a 1.7 million barrel drawdown.