Brent prices remain under pressure and are headed for a second weekly decline, as the market focuses more on the risk of oversupply than potential supply disruptions. Brent is hovering below $60/barrel (down by >2% in a week), while WTI is hovering around $56/barrel—reflecting the sentiment of "supply is plentiful, demand is not yet strong enough."
The main concern stems from the view of major traders that the market could potentially be in surplus by early 2026. Trafigura even estimates that Brent could remain in the $50s until mid-2026 if there are no major disruptions or significant production cuts. Geopolitical risks (Russia-Ukraine, Venezuela) could indeed hold back the decline, but so far have not been enough to overcome the "glutton narrative"; furthermore, with the year-end holidays approaching, trading volumes are thin, making price movements more volatile. (az)
The oil price at the time of this analysis was $59.39.
Disclaimer
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
Silver prices rose on Friday (December 19) and remained near their all-time highs, driven by strong investor interest in safe-haven assets. The weakening US dollar and expectations of lower global int...
Silver prices are showing a very strong trend today. Silver prices remain near all-time highs, driven by expectations of interest rate easing in the US and strong investor demand for this precious met...
Gold remains supported by global economic data that reinforces expectations of an interest rate cut by the US Federal Reserve, reducing real yields and increasing gold's appeal as a safe-haven asset. ...
Oil is headed for a second weekly decline as concerns about a supply surplus outweigh concerns about supply disruptions. Brent is below $60 (down >2% this week) and WTI is around $56; many major tr...
Silver prices fell slightly on Thursday (December 18th) from recent highs as many investors took profits after a sharp rally this year. The white metal had surged on strong industrial demand and senti...
Oil prices fell on Friday (December 19th) and are expected to post a second straight weekly decline as potential oversupply and the prospect of a Russia-Ukraine peace deal outweigh concerns over disruptions caused by a Venezuelan oil tanker...
Silver prices rose on Friday (December 19) and remained near their all-time highs, driven by strong investor interest in safe-haven assets. The weakening US dollar and expectations of lower global interest rates have made silver increasingly...
The Hang Seng Index rose 192 points, or 0.75%, to end at 25,690 on Friday, extending its gains for a third session as all major sectors advanced. Sentiment was boosted by continued gains in mainland China's stock market amid reports that ByteDance...
Fed Governor Christopher Waller said Wednesday that the Fed is in no rush to cut interest rates, given the current outlook, according to...
Stocks fell slightly on Tuesday as traders digested the delayed release of the November's jobs report.
The S&P 500 fell 0.1%, while the Nasdaq...
Nonfarm Payrolls (NFP) in the United States rose by 64,000 in November, according to a report from the U.S. Bureau of Labor Statistics (BLS) on...
European stocks closed lower on Tuesday, with the STOXX 50 down 0.5% and the broader STOXX 600 slipping 0.4%, as optimism around Russia–Ukraine...