Live Updates > Live Update Details
2025-12-17 08:28:32
[Trump's Blockade of Tankers Pressures Venezuela, Oil Prices Rebound from Multi-Year Lows] 1. International oil prices rebounded slightly from their lowest levels since 2021 after US President Trump increased pressure on Venezuela by blocking sanctioned oil tankers. However, the shadow of a global supply glut continues to loom over the market, with signs of weak demand emerging from the Middle East to the US. 2. Investors are bracing for the International Energy Agency's (IEA) prediction of the largest supply glut since the pandemic. This glut is primarily driven by OPEC+ restoring spare capacity at a faster-than-expected pace and increased production from other oil-producing countries, putting downward pressure on crude oil prices for the year. 3. Meanwhile, traders are also weighing the prospect of a potential peace agreement in Ukraine, which could pave the way for reduced restrictions on Russian crude oil exports, potentially further increasing market supply. Currently, geopolitical risks and fundamental supply glut are jointly shaping the complex landscape of the oil market.
