Oil Prices Extend Gains Amid Policy Uncertainty

Oil markets are set for a fourth consecutive weekly rise as traders navigate geopolitical risks and supply disruptions.

Brent and WTI Continue Upward Momentum

Brent crude neared $82 per barrel, while West Texas Intermediate (WTI) climbed past $79, reflecting strong demand and tightening supplies.

Sanctions and Tariffs Shape Market Outlook

President-elect Trump’s plans for sanctions on Russia, Iran, and Venezuela and potential tariffs on Canada drive market volatility.

Impact of Russian Sanctions

Recent Biden administration sanctions on Russian oil ripple through markets, with freight costs rising and buyers like India seeking alternatives.

Winter Demand and Declining Stockpiles

Cold weather in the northern hemisphere, paired with seasonal declines in U.S. crude inventories, supports robust price growth in energy markets.

Physical Market Tightness Signals Strong Demand

The prompt spread for Brent widened to $1.41, signaling tighter supply conditions. Middle Eastern grades like Murban surged against benchmarks.

Market Awaits Clarity on Trade Policies

Uncertainty around Trump’s trade and sanctions strategy, including potential Canadian oil tariffs, keeps traders on edge as new policies loom.