Oil Fluctuates as Traders Weigh Surplus, Geopolitical Risks
(Bloomberg) — Oil steadied on the first trading day of 2026 as expectations for a supply surplus offset geopolitical risks to production in several OPEC nations.
Brent crude futures settled below $61 a barrel in relatively thin trading, while West Texas Intermediate settled above $57. Middle Eastern markets, including derivatives like the regional Dubai benchmark, faltered amid heavy selling pressure on a key trading window in Asian hours, traders familiar with the matter said.
