London, Jan 8, 2026, 12:08 GMT — Regular session
WisdomTree Brent Crude Oil (BRNT.L) rose about 1% to $46.66 in London trading on Thursday, tracking a firmer Brent crude market. Brent futures were up about 1.5% at $60.83 a barrel.
BRNT is a fully collateralised exchange-traded commodity (ETC) that aims to give investors total-return exposure to Brent crude oil futures, via a Bloomberg Brent crude subindex. It trades like a stock, so it is often used as a quick way to take oil exposure in European hours.
The move comes as oil prices steady after a short sell-off, with traders juggling supply headlines and policy risk. “Higher prices are led by the U.S. President allowing the Russia sanctions bill to advance,” PVM analyst Tamas Varga said, pointing to fears of disruption to Russian exports. Morgan Stanley analysts, though, have forecast a surplus of as much as 3 million barrels per day in the first half of 2026, which has kept a lid on rallies. Reuters
U.S. inventory data also gave the market mixed signals. The Energy Information Administration said commercial crude inventories fell by 3.8 million barrels to 419.1 million in the week ended Jan. 2, while gasoline stocks rose by 7.7 million barrels and distillate fuel — including diesel and heating oil — increased by 5.6 million barrels.
But the fuel stock builds have fed back into the oversupply argument, especially with demand still patchy in parts of the market. EOG Resources finance chief Ann Janssen said oversupply and potentially higher output from Venezuela were weighing on prices, a trend she expected to persist for several quarters.
The swing in Brent-linked products has started to show up in company guidance too. Exxon Mobil said lower crude prices could cut its fourth-quarter upstream earnings — the part of the business that produces oil and gas — by about $800 million to $1.2 billion, and Scotiabank analysts said “many brokers … have yet to mark to market” on oil and gas assumptions. Exxon is due to report on Jan. 30. Reuters
For BRNT holders, the next near-term catalyst is another run of U.S. stockpile data. The EIA said its next weekly petroleum status report is scheduled for Jan. 14.
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