Brent crude oil futures hovered around $63.3 per barrel on Friday, holding at a two-week high and remaining on track for a weekly gain, driven by geopolitical risk premium.
Traders continued to watch for a possible US move in Venezuela after President Donald Trump signaled imminent action against the oil giant, with Rystad Energy warning that any escalation could threaten the country's 1.1 million bpd of crude output.
Prices were also supported by the lack of progress in US talks in Moscow over the Ukraine war, which reduced the near-term prospects for restoring Russian supply, while Ukraine continued targeting Russian energy infrastructure. Expectations of a US rate cut, which could stimulate economic activity and boost oil demand, also added upward pressure.
Still, concerns over demand and potential oversupply capped gains, with Saudi Arabia lowering its January Arab light crude price for Asia to its lowest level in five years, while Canadian oil tumbles to its weakest since March.
WTI oil prices were poised for a weekly gain on Friday, supported by an expected Federal Reserve interest rate cut, escalating U.S.-Venezuela tensions and stalled peace talks in Moscow, though both oil benchmarks dipped from the previous day.
Source: Trading Economi
Oil prices have held onto gains over the past two days amid market focus on ceasefire talks in Ukraine and concerns about a global oversupply. Brent is trading above $63 per barrel, while WTI is hover...
Oil prices have remained bullish for the past two days. WTI is trading near $60 per barrel, while Brent is above $63 after gaining 1.2% on Thursday. Market sentiment has been largely influenced by dev...
Oil prices held steady on Thursday amid investor expectations that the Federal Reserve would cut interest rates, while stalled Ukraine peace talks dampened hopes of a deal to restore Russian oil flows...
Oil prices firmed on Thursday after Ukrainian attacks on Russia's oil infrastructure signalled potential supply constraints, and stalled peace talks tempered expectations of a deal restoring Russian o...
Oil prices edged higher and remained in the green in recent trading, as market participants weighed the chances of a ceasefire in Ukraine and escalating tensions between the United States and Venezuel...
Stocks in Europe traded higher on Friday, with both the STOXX 50 and STOXX 600 up 0.2%, putting them on track to notch a second consecutive week of gains. Expectations that the Federal Reserve will deliver another rate cut next week continued to...
Brent crude oil futures hovered around $63.3 per barrel on Friday, holding at a two-week high and remaining on track for a weekly gain, driven by geopolitical risk premium. Traders continued to watch for a possible US move in Venezuela after...
The Hang Seng rose 149 points, or 0.6%, to close at 26,085, reversing morning losses and marking a second straight session of gains. An uptick in U.S. futures supported sentiment ahead of the U.S. PCE index, a key inflation gauge preferred by the...
Asia Pacific stock markets opened quietly on Wednesday morning, with investors awaiting the release of key economic data from the United States and...
Private businesses in the US cut 32K jobs in November 2025, following an upwardly revised 47K gain in October, and compared to forecasts of a 10K...
US President Donald Trump has hinted that Kevin Hassett, the current chairman of the National Economic Council, whom Donald Trump appointed to the...
Vladimir Putin warned that Russia might consider attacking ships of countries supporting Ukraine if the surge in attacks on Moscow's tanker fleet...