Oil prices rose more than 1% after a fall, but are heading for their first weekly decline in almost two months. Investors are focused on US-Iran talks.
The US Treasury Department has authorized the sale of diluents to Venezuela, which is key to its oil sector. This decision allows American companies to process payments and contributes to the restoration of Venezuela's oil industry.
Global oil prices rose after Trump's statement on Iran and the energy blockade of Cuba. Brent is trading above $70 per barrel, WTI – around $65.30.
Brent crude prices exceeded $69 per barrel, and WTI – $64, due to escalating tensions between the US and Iran. The market is also affected by reduced US inventories and a winter storm.
Indian Oil Corp purchased 7 million barrels of oil for March loading, including Brazilian oil from Petrobras. This is a step towards phasing out Russian oil and increasing imports from the Middle East.
Global oil prices are stable due to a weak dollar and optimism in financial markets, which offsets fears of a fuel surplus. Chinese stimulus and US GDP growth support the market, despite IEA forecasts of a significant surplus in 2026.
Indian refiners are changing their oil import strategy, reducing purchases from Russia and increasing supplies from the Middle East. This could help New Delhi conclude a trade deal with the United States and lower tariffs.
Oil prices rose after Iran suppressed protests, which reduced the likelihood of US intervention. Brent rose by 0.09%, WTI by 0.15%.
Oil prices fell after four days of gains as Venezuela resumed exports and US crude and product inventories rose. However, concerns about supply disruptions from Iran continue to impact the market.
Brent and WTI crude futures rose on Tuesday. This comes amid escalating protests in Iran and potential US intervention, outweighing prospects for increased oil supplies from Venezuela.
Two Chinese supertankers, en route to Venezuela to load oil, have changed course and are returning to Asia. This occurred amid the ongoing oil embargo imposed by the US against Venezuela.
In December 2025, Russian oil companies sharply reduced crude oil production. This happened against the backdrop of increased Western sanctions pressure and falling world prices.
Goldman Sachs forecasts a gradual decline in oil prices in 2026 due to rising supply. The bank expects prices to reach lows of $54/$50 per barrel for Brent/WTI in Q4.
Global oil prices are rising for the third consecutive day due to escalating protests in Iran and US actions regarding Venezuela. Brent crude reached $63.89 per barrel, and WTI reached $59.65.
Mass protests in Iran, which have been ongoing for two weeks, have led to the deaths of over 530 protesters and the arrest of over 10,000 people. These events could radically change global geopolitics and energy security, causing oil prices to rise.
Donald Trump plans to resume oil production in Venezuela to lower global prices to $50 per barrel. This would allow the US to control about 30% of the world's raw materials market.
Global oil prices rose by 2% at the close of trading on January 9 due to geopolitical instability. Protests in Iran and escalation in Ukraine affected the market.
Russia's crude oil production experienced its largest drop in 18 months in December. This was attributed to Western sanctions and active Ukrainian drone strikes on energy infrastructure.
US Vice President J. D. Vance called the detained tanker Marinera (Bella 1) a "fake Russian oil tanker," and the country's Attorney General Pam Bondi indicated that its crew faces criminal prosecution.
Global oil prices fell on January 6, 2026, due to expectations of increased supply from Venezuela after the capture of Nicolas Maduro. Brent and WTI futures fell by 0.2% and 0.3% respectively.
World oil prices fell on January 5, despite geopolitical tensions following the detention of Venezuelan President Nicolas Maduro. The market remains stable due to an oversupply of global crude oil reserves.
OPEC+ agreed to maintain stable oil production, despite an 18% price drop in 2025 and tensions between Saudi Arabia and the UAE. Eight countries raised their production targets by 2.9 million barrels per day from April to December 2025.
According to the results of 2025, Russia's foreign trade continued to degrade due to falling world energy prices and oil production quotas. The share of fuel and energy goods in exports decreased to 54.9%, and imports of investment goods decreased by 8.7%.
Brent and WTI crude futures rose by 35 and 34 cents respectively on the first trading day of 2026. This followed the largest annual decline since 2020, caused by drone attacks on Russian oil facilities and US sanctions against Venezuela.
Oil prices were little changed on Wednesday but are expected to fall by more than 15% over 2025. This is due to fears of oversupply, despite wars, tariffs, and sanctions.
Separatists in southern Yemen accused Saudi Arabia of airstrikes on their forces in Hadhramaut after a warning about troop withdrawal. This escalates the situation in the country and jeopardizes the coalition fighting the Houthis.
Oil prices rose after the US tightened its naval blockade of Venezuela and Ukrainian drones attacked a Russian tanker. Brent rose to $61, WTI to $57.
The global oil market is experiencing an oversupply of "black gold," pushing oil prices down. A record 1.3 billion barrels of crude oil are in transit or awaiting buyers in the world's oceans.
Brent and WTI crude futures rose by 0. 70%-0.75% due to fears of supply disruptions from Venezuela. This happened after the US seized a tanker with Venezuelan oil and amid cautious market sentiment.
OPEC forecasts that global oil supply will almost entirely meet demand in 2026, contradicting IEA estimates of a significant surplus. The average OPEC+ oil demand will be 43 million barrels per day, close to the production level.
