The oil prices They closed slightly lower on Friday, amid geopolitical tensions in Ukraine and Venezuela and with the prospect of a surplus of crude oil on the global market.
The price of a barrel of North Sea Brentfor delivery in February, fell 0.26% to $61.12.
Its American equivalent, the barrel of West Texas Intermediate (WTI) for January fell 0.28% to $57.44.
“The war in Ukraine and increasing tensions between Venezuela and the United States” are the reason why prices are not under “even greater pressure,” explained Barbara Lambrecht, an analyst at Commerzbank.
US President Donald Trump expressed frustration at the lack of results in negotiations to end the war in Ukraine.
A resolution of the conflict would return barrels to the market If the sanctions imposed on Moscow and Ukraine are lifted, the bombing of Russian oil infrastructure will cease.
At the same time, the United States government announced on Thursday new sanctions against the shipping companies that operate in Venezuela and against relatives of President Nicolás Maduro.
But “for now, the market does not foresee a risk of supply disruption,” said Giovanni Staunovo, an analyst at UBS.
In parallel, “the prospect of oversupply remains elevated and should continue to pressure prices,” Lambrecht said.
The increase in the quotas of OPEC production Since April it has helped boost the supply of crude oil in the market, driving prices down in recent months.
The organization confirmed, in its last meeting, that it will pause production increases in the first quarter of 2026.
