Oil Market Outlook
Bangkok Post
|December 29, 2025
Oil prices rose last week as supply concerns intensified because of stricter US sanctions against Venezuela.
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In addition, Russian supply has been exposed to heightened risk following Moscow's intensified attacks on Ukrainian port facilities at Odesa on the Black Sea. Kyiv has replied with drone strikes targeting two Russian vessels.Despite these developments, Russia's crude export volumes increased in the week to Dec 21, reaching 3.87 million barrels per day (bpd), the highest since May 2023. The volume of Russian crude oil transported via maritime routes was approximately 185 million barrels.
West Texas Intermediate (WTI) crude rose $1.63 to close at $57.95 per barrel. Brent gained $1.86 to $61.88. Thaioil forecasts that WTI this week will trade between $55 and $65, and Brent between $58 and $68, with thin volumes because of the holidays. Among the factors expected to influence trade:
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