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Oil prices dip on Tuesday
Aya Anwar Published in Amwal Al Ghad on 23 - 12 - 2025

Oil prices dipped on Tuesday as traders balanced geopolitical tensions with bearish supply fundamentals. Brent crude fell 13 cents to $61.94 per barrel, while US West Texas Intermediate (WTI) eased 14 cents to $57.87.
The market remains subdued after Monday's gains, when Brent rose over 2 per cent, marking its strongest daily performance in two months, and WTI saw its biggest jump since mid-November. Analysts attribute the cautious tone to persistent oversupply and sluggish demand, despite short-term price spikes from geopolitical events.
Tensions escalated as the US signalled it may sell Venezuelan crude it recently seized, while Russia and Ukraine struck each other's Black Sea facilities. Ukrainian attacks damaged Russian vessels and piers in Krasnodar, while Russian forces targeted Ukraine's Odesa port.
Barclays noted that even a temporary halt in Venezuelan exports would likely leave the market well supplied in the first half of 2026, though prolonged disruptions could tighten supply and reduce inventory buffers.
Attribution: Reuters

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