January oil contract trading volume hits record high.

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.