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2025-12-17 19:08:39
[Geopolitical Risks Drive Brent Crude Oil Rebound Over 2%] ⑴ Brent crude futures rose over 2% on Wednesday, returning above $60 a barrel. Prices rebounded from near five-year lows in the previous session after the US ordered a "complete and thorough" blockade of sanctioned oil tankers linked to Venezuela. ⑵ However, broad downward pressure, including weak demand and progress in peace talks, may limit the upside for oil prices. ⑶ Progress in the peace agreement has increased expectations of a possible easing of restrictions on Russian oil shipments as markets prepare for oversupply. Ample supply has made this year difficult for oil prices due to OPEC+ steadily restoring shut-down production and increased output from non-OPEC producers. Crude oil prices are still on track for their worst annual performance in seven years.
