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Oil prices steady but glut a worry

Bangkok Post

January 05, 2026

Oil prices steadied on the first trading day of 2026 as expectations for a supply surplus offset geopolitical risks in several Opec+ nations.

Brent crude futures settled below $61 a barrel on Friday in relatively thin trading, while West Texas Intermediate (WTI) settled above $57. Middle Eastern markets, including derivatives like the regional Dubai benchmark, faltered amid heavy selling pressure on a key trading window in Asian hours, traders said.

Oil closed out 2025 last Wednesday with its steepest annual loss since 2020 as the market confronted wide-ranging geopolitical risks and steadily rising supplies across the globe. A punishing surplus is expected to weigh on prices in 2026.

WTI fell 0.9% to settle at $57.42, completing a 20% decline for the year. In the short term, traders are focused on Opec+ and President Donald Trump’s policies toward Russia, Iran and Venezuela.

Cette histoire est tirée de l'édition January 05, 2026 de Bangkok Post.

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