ALGIERS – Global oil prices have remained relatively stable on Friday, amidst thin trading volumes as the year-end approaches. This subdued activity has limited significant price fluctuations, despite ongoing geopolitical tensions in various regions.
Brent crude, the international benchmark, experienced a marginal increase of 0.13 percent, reaching $62.32 per barrel. This stability is attributed to a perceived balance between supply and demand during the limited trading sessions.
West Texas Intermediate (WTI), the US benchmark, also saw a slight gain of 0.15 percent, settling at $58.44 per barrel in midday trading.
Market analysts suggest that the stability is temporary, with the market closely monitoring several factors that could influence future prices.
These factors include upcoming indicators related to global energy demand, the production policies of major oil-exporting nations, and geopolitical developments that could potentially disrupt oil supplies in the coming months.
Traders are also keenly awaiting announcements on future production quotas from OPEC+ nations, which are expected to be a key driver of price movements in the new year.
Further contributing to market uncertainty are the evolving economic landscapes in major consuming nations such as China and the United States, with their growth trajectories expected to significantly impact demand forecasts.
The energy sector remains vigilant, prepared for potential shifts in the global oil market as we approach 2026.
