Oil Steadies as Global Tensions Help Offset Oversupply Outlook
Yahoo Finance·2025-12-24 17:50

Vessel tracking data compiled by Bloomberg Oil held gains from the past five session as escalating geopolitical tensions provide some price support to a market headed for oversupply. Brent futures traded above $62 a barrel in thin Christmas Eve trading, up about 6% since closing at the lowest level in almost five years early last week, as the US ramps up pressure on Venezuela. Most Read from Bloomberg The global benchmark is still on track for its biggest annual decline since 2020, with virtually all ...