US EditionOil Rises as Concerns About Supply Disruptions in Venezuela, Iran ...
Oil prices rose over 3% weekly as U.S. control of Venezuelan oil and unrest in Iran raised supply risks amid ongoing geopolitical tensions.
- Oil markets on Friday saw oil prices rise for a second day and set for a third weekly gain amid uncertainty about Venezuela and Iranian unrest.
- After taking control of Venezuelan oil assets, U.S. officials said Washington will control sales indefinitely and plans to sell 30 million to 50 million barrels worth $2 billion.
- Market strategist Tina Teng said, `The price surge has been primarily due to Trump's claim to control Venezuela's oil export, which could see a price increase from previously discounted sales`, while Chevron Corp, Trafigura and Vitol compete for U.S. export deals.
- Brent futures rose 44 cents to $62.43 and West Texas Intermediate gained 39 cents to $58.15 at 0203 GMT, extending gains amid President Donald Trump's threat of 500 per cent tariffs.
- Analysts including Jim Burkhard say a Q1 2026 stock build of 1.4 million bpd remains the base case, but Energy Aspects warned easing sanctions would only restore Venezuelan output to about 1.1 million bpd.
26 Articles
26 Articles
Oil Prices Rise as Protests in Iran Escalate
Oil prices rose early on Friday as protests in Iran continued to escalate, unnerving market participants that one of the biggest oil producers in the Middle East could see supply threatened. Both the WTI and Brent benchmarks traded about 0.7% higher as of 8:05 a.m. ET, as the market assessed potential risks to supply from the ongoing unrest in Iran. The U.S. benchmark crude futures, WTI, were up by 0.74% to trade at $58.16 per barrel, while th…
Oil prices continued to rise on Friday and are headed for a third weekly increase amid uncertainty over further supplies from Venezuela and growing concern about Iran's production situation.
Times of India
The Economic TimesOil prices gain 2% as market focuses on Venezuela and supply worries in Russia, Iraq and Iran
Oil prices climbed nearly 2% as investors weighed escalating U.S. sanctions on Venezuela, a drone attack on a Russia-bound tanker in the Black Sea, and Iraq's nationalization of the West Qurna 2 oilfield. The U.S. seized two Venezuela-linked tankers, while concerns over supply disruptions from Russia, Iraq, and Iran contributed to the market's upward movement.
Oil Gains as Market Weighs Iran, Russia Supply Risks
Oil prices rose 2% on Friday, set for a weekly gain, on growing supply worries linked to the intensifying protests in oil-producing Iran and an escalation of attacks in Russia’s war in Ukraine. Brent futures were up $1.51, or 2.44%, to $63.50 per barrel at 1:43 p.m. ET (1843 GMT), while U.S. West Texas Intermediate (WTI) crude was up $1.55, or 2.68%, to $59.31. Both benchmarks climbed more than 3% on Thursday, following two straight days of decl…
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