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Oil prices
raw world is observed to rise, following
economic growth
United States (US) which is faster than expected.
Quote
Reuters
, Wednesday (24/12), the price of West Texas Intermediate (WTI) crude oil futures rose 37 cents or the equivalent of 0.64 percent to US$58.38 per barrel.
Meanwhile, the price of Brent crude oil futures rose 31 cents or plus 0.5 percent to US$62.38 per barrel.
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World oil prices have recorded an increase of more than 2 percent since the beginning of this week.In detail, Brent recorded its biggest daily increase in two months and WTI experienced its highest price jump since November 14, 2025.
“The market is trying to decide whether to be more enthusiastic about the demand from strong (US economic) growth or worried that the Fed will have to put the brakes on that growth to control inflation,” explained Price Futures Group Senior Analyst Phil Flynn.
On the other hand, investors are worried about the risk of supply disruption from Venezuela.
Concerns arose due to the actions of US President Donald Trump who announced a blockade of all Venezuelan oil tankers.The policy impacts ships entering and leaving the country.
“With storage capacity in Venezuela running low, there is an increasing risk that the country may have to halt some production,” said UBS analyst Giovanni Staunovo.
Tanker activity in Venezuela is currently reported to be reduced.Most of the ships are claimed to only carry oil cargoes between domestic ports, following Trump’s actions.
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