Oil prices edged higher in Asian trading on Friday, extending a strong rebound from the previous session as investors weighed mounting geopolitical risks and potential supply disruptions involving major oil producers. Crude markets were supported by renewed concerns over Russia, Iran, and the Middle East, while fears of an immediate surge in Venezuelan oil supply eased following political developments in the United States.
Brent crude futures for March delivery rose 0.7% to $62.44 per barrel, while West Texas Intermediate (WTI) crude gained 0.7% to $58.03 per barrel. Both benchmarks returned to levels seen before last week’s U.S. military action in Venezuela, after surging more than 4% in the prior session. Oil prices also received modest support from upbeat inflation data out of China, the world’s largest crude importer, signaling that economic recovery momentum may be building.
However, gains in the oil market remained limited as traders exercised caution ahead of key U.S. nonfarm payrolls data, which could influence expectations around interest rates and broader economic growth. Uncertainty over monetary policy continues to weigh on commodity markets globally.
Geopolitical tensions played a major role in supporting crude prices this week. Ongoing military conflict between Russia and Ukraine raised alarms after a drone attack targeted a tanker bound for Russia in the Black Sea, highlighting risks to Russian oil exports. Additional pressure came from reports that U.S. President Donald Trump may allow stricter sanctions on countries doing business with Moscow. Meanwhile, Iraq approved plans to nationalize operations at the West Qurna 2 oilfield, one of the world’s largest, adding to supply uncertainty.
In Iran, escalating anti-government protests and a nationwide internet blackout heightened concerns over potential disruptions to oil production. At the same time, worries over a rapid increase in Venezuelan oil output subsided after the U.S. Senate advanced a resolution aimed at limiting further military action without congressional approval. Analysts noted that even with U.S. involvement, Venezuela’s aging infrastructure and political instability would likely delay any meaningful production boost.
Despite the rebound, oil prices remain under pressure in 2025, marking their steepest annual decline in five years amid growing fears of a global supply glut in 2026.


Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns
U.S. Stock Futures Edge Higher as Tech Rout Deepens on AI Concerns and Earnings
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm
RBI Holds Repo Rate at 5.25% as India’s Growth Outlook Strengthens After U.S. Trade Deal
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility
Thailand Inflation Remains Negative for 10th Straight Month in January
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains
Australia’s December Trade Surplus Expands but Falls Short of Expectations
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 



