Crude Oil Prices Edge Higher on Possible Further U.S. Sanctions Against Russia

Crude oil prices rose slightly due to potential U.S. sanctions on Russia's energy sector and a blockade of Venezuelan oil tankers, raising supply concerns. Brent crude increased by 0.2% to $59.78/barrel, and West Texas Intermediate crude rose by 0.3% to $56.13/barrel. The U.S. may impose further sanctions if Russia does not agree to a peace deal with Ukraine, though no decision has been made yet. Analysts suggest these sanctions could significantly impact global oil supply.

Brent crude oil falls below $60: Expectations for a ceasefire between Russia and Ukraine rise, and the issue of excess inventory comes to the surface

According to CCTV News, Trump stated that we are closer than ever to reaching a "peace agreement" to achieve peace between Russia and Ukraine, and concerns about crude oil disruptions have significantly diminished. In addition, the U.S. Energy Information Administration and the International Energy Agency have both warned that the crude oil market is facing an unprecedented oversupply, with global inventories reaching their highest level in four years

Brent crude oil price analysis: Levels to eye amid the crash

Crude oil prices have dropped to a two-month low due to concerns over supply glut and slowing demand growth. Brent oil is currently at $60, while WTI oil is at $56.41. The market is influenced by US nonfarm payrolls and CPI data, with high volatility expected. China's stockpiling and IEA's improved supply/demand outlook for 2026 are key factors. Technical analysis suggests a possible short-term correction for Brent oil, but it is likely to remain below $64.50.

Why oil prices are cooling despite rising heat on Venezuela

Oil prices are declining this week despite geopolitical tensions, including the U.S. seizure of a tanker off Venezuela's coast and Ukraine hitting a Russian tanker. Historically, such events push prices up, especially involving oil producers. The decline is attributed to a soft macroeconomic picture.

Us Brent Oil | 10-Q: FY2025 Q3 Revenue: USD 3.016 M