United States President Trump intensifies pressure on Denmark to acquire Greenland from NATO and threatens punitive tariffs against opponents. Meanwhile, the European Union considers retaliatory measures. Traders assess potential disruptions to Black Sea crude supplies, driving up international oil prices on January 20.

West Texas Intermediate (WTI) crude for February delivery increased by US$0.90 (1.51%), reaching US$60.34 per barrel on the New York Mercantile Exchange.

Brent crude for March delivery rose by US$0.98 (1.53%) to US$64.92 per barrel.