Khaberni - Oil prices rose on the first trading day for 2026 after it incurred last year the biggest annual loss since 2020, with Ukrainian drones targeting Russian oil installations, and the American siege pressuring Venezuelan exports.
By 04:09 GMT on Friday, the price of Brent crude in futures rose 35 cents to $61.20 per barrel, and West Texas Intermediate US crude increased 34 cents to $57.76 per barrel.
Russia and Ukraine exchanged accusations of launching attacks on civilians in the first days of the new year, despite intense talks led by US President Donald Trump aiming to end the war ongoing for nearly four years.
Kyiv intensified its strikes against Russia's energy infrastructure in recent months; aiming to cut off Moscow's funding sources for its military campaign in Ukraine.
In the latest US actions to increase pressure on Venezuelan President Nicolas Maduro, Washington imposed sanctions on Wednesday on four companies and oil tankers linked to it, claiming they operate in the Venezuelan oil sector.
The American siege aims to prevent tankers subject to sanctions from entering or leaving Venezuela, and it forces the state energy company to resort to unconventional solutions; to avoid shutting down refining units as fuel stockpiles accumulate.
The benchmark crudes recorded annual losses near 20% in 2025, the most severe since 2020, as concerns about increased supply and tariffs outweighed the impact of geopolitical risks. This was the third consecutive year that Brent incurred losses, marking the longest losing streak on record.
