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West Texas Intermediate (WTI) Oil price loses ground after two days of gains, trading around $57.70 per barrel during the Asian hours on Wednesday. WTI is down nearly 3% in December, heading for a fifth straight monthly loss and nearly a 20% annual drop. However, crude Oil prices rose earlier this week as investors reassessed fading hopes of a Russia-Ukraine peace deal following alleged strikes on Russian President Vladimir Putin’s residence. Reuters cited a note from Matt Portillo of Tudor, Pickering Holt, who said the purported attack on Russian President Vladimir Putin’s home could revive a risk premium and keep prices rangebound. Russia said it would harden its stance in peace talks after accusing Kyiv of the attack, an allegation Kyiv rejected as baseless and aimed at derailing negotiations. Moreover,  Saudi air strikes in Yemen and Iran’s declaration of a “full-scale war” with the United States (US), Europe, and Israel have heightened fears of wider instability, while Trump warned of further strikes if Iran resumes rebuilding its nuclear programme. Expectations of a sizeable Oil surplus, driven by higher output from the Organization of the Petroleum Exporting Countries and its allies, commonly known as OPEC+ and non-OPEC producers, and muted demand growth, gradually weighed on Oil prices in 2025. OPEC+ is expected to stick to its plan to pause supply increases in Q1 2026 when it meets on Sunday. WTI Oil FAQs WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via…

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Filed under: News - @ December 31, 2025 3:14 am