January oil contract trading volume hits record high.
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According to CoinWorld, due to geopolitical risks such as U.S. actions in Venezuela and heightened tensions with Iran, the West Texas Intermediate (WTI) crude oil contract reached a record high in January with 1.9 million contracts traded. On January 30, WTI contract trading volume hit 257,569 contracts, setting a single-day record, and U.S. oil prices also reached a six-month high. The severe winter weather in the U.S. has also disrupted crude oil production, further increasing price volatility. Currently, the price of WTI crude oil is $63.48 per barrel.
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