Crude Oil Prices Rise Amid Geopolitical Tensions
Update: 2025-12-05
Description
Crude oil prices edged up slightly on Friday, with WTI crude and gasoline both gaining, amidst a complex global energy landscape. Russian President Putins warning about potential attacks on ships and former President Trumps suggestion of closing Venezuelas airspace added geopolitical tension. Meanwhile, Saudi Arabias Aramco cut prices for Asian customers, signaling weakening global demand. Despite this, reduced Russian crude exports, due to Ukraines attacks and new sanctions, are supporting prices. OPEC Plus announced a pause in production increases for the first quarter of 2026, responding to an emerging global oil surplus.
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