Oil Rises on Geopolitical Risks to Supply

Oil holds steady as markets weigh Russian strikes, Venezuela tensions

Oil prices held firm in early trading on Tuesday as market participants assessed risks stemming from Ukrainian drone strikes on Russian energy sites, mounting US-Venezuela tensions and mixed expectations for US fuel inventories. Brent crude futures rose 7 cents, or 0.1%, to $63.24 a barrel at 0427 GMT. US West Texas Intermediate crude gained 10 cents, or 0.2%, to $59.42 a barrel. Both benchmarks advanced more than 1% on Monday, while WTI was nea…

Oil Prices Inch Higher as US-Venezuela Tensions Grow

OPEC decided to maintain current production levels into 2026 on fears of a global glut. Oil prices rose over $1 a barrel on Monday after drone attacks by Ukraine, rising tensions between the United States and Venezuela, and a decision by global oil producers to keep output levels unchanged in the first three months of 2026. OPEC+—a coalition of the Organization of the Petroleum Exporting Countries and 10 non-member, oil-exporting countries that …

Oil eases amid uncertainty around Russia-Ukraine peace plan, oversupply worries

Oil prices climbed in early trade on Tuesday as the market assessed risks stemming Russia-Ukraine conflicts and mounting U.S.-Venezuela tensions.

Oil Climbs Over $1 a Barrel on OPEC Action, Ukraine Attack

Oil prices rose $1 a barrel on Monday following drone attacks by Ukraine, the closure of Venezuelan airspace by the United States, and OPEC’s decision to leave output levels unchanged in the first quarter of 2026. Brent crude futures advanced $1, or 1.6%, to $63.38 a barrel by 9:14 a.m. CDT (1514 GMT). U.S. West Texas Intermediate crude gained 94 cents, or 1.61%, to $59.49 a barrel. “Ukrainian drone attacks on Russian shadow fleet as well as a c…

Oil: Brent rises as attacks hit Russian energy assets – ING

Oil prices are trading firmer this morning, with Brent up more than 1.1% at the time of writing, following additional attacks on Russian energy infrastructure over the weekend, ING's commodity experts Ewa Manthey and Warren Patterson note.

Oil rises 2% on Opec+ output plan, supply worries

Oil prices climbed 2% on Monday after Opec+ members reaffirmed a plan to hold output steady and as the Caspian Pipeline Consortium halted exports after a major drone attack and US-Venezuela tensions raised concerns about supply.