Oil Price Today, Dec. 18, 2025: Brent Near $60 as Venezuela Blockade and Russia Sanctions Risks Collide With 2026 Oversupply Forecasts
Brent crude rose about 0.5% to near $60 a barrel and WTI gained roughly 0.7% to $56.32 by 09:10 GMT Thursday. Traders cited U.S. moves to block sanctioned Venezuelan oil tankers and possible new sanctions on Russia as key risks. Analysts estimate up to 600,000 barrels per day of Venezuelan exports could be affected. Market reaction remained cautious amid high inventories and forecasts for ample 2026 supply.